Insurance Claims and their Misconceptions

NO LEAKS

Hail or wind damage doesn’t mean you are going to have leaking or interior damage. Insurance companies replace siding and roofing without interior damage. When a home’s exterior is damaged by wind or hail, the chance of interior damage increases. But, so does the chance of out-of-pocket expenses. If an insurance company shows that you could have avoided the interior damage, or any other damage, then you will have more difficulty with getting everything covered. Taking responsibility early, by getting yearly inspections shows a policy holder’s ability to avoid damage. This makes covering everything easier during the insurance claim.

I HAVEN’T SEEN A RECENT STORM

Your subject is what insurance companies call “Date of Loss.” The date of loss is nearly irrelevant. If you have wind damage from six month ago, the date of loss is the date of that storm, even if you didn’t know you had wind damage. Yes, even if you found it a year after the date of loss. Hail damage, for instance, isn’t recognizable when it happens. Hail hits damage the granules that cover the matting of a shingle. Less granules allow UV light from the sun to age the shingle faster. This decreases the life of a roof. Hail damage isn’t noticeable and can only be seen with an experienced inspector. Wind damage may also occur without causing noticeable damage for months

INCREASE OF YEARLY PREMIUMS OR INSURANCE COST

An “Act of God” type of claim, from wind or hail damage, is unavoidable. It is not your fault. Your rates will not increase on an individual basis. To compare a homeowner’s insurance policy to car insurance is useful. Think about hitting a pole or hitting a deer. The first incident was avoidable, the second one wasn’t. Wind and hail damage are unavoidable claims in which you are not at fault. This type of claim will not increase your rates. What will happen, however, is rates will increase by zip code. If many of your neighbors are getting their roofs replaced through insurance claims, your premiums will increase, regardless of you filing a claim or not.