The May 8th, 2017 hail storm across the Denver metro area that included Golden, Littleton, Lakewood, Arvada, Denver, Aurora, Thornton and towns North all the way to Greeley preliminarily was set at an estimated $1.4 billion in damage and projected to be the most expensive in state history. As the anniversary of this storm arrives, it is important to understand the rights homeowners have and their ability to place a claim on monies owed to them from for repairs as a result of this storm.
“I don’t want to submit a claim to my insurance company.”
A very common misconception by homeowners is the fact that they believe their insurance premiums will increase as a direct result of a claim submitted due to the May 8th hail storm (or any hail storm for that matter). There are rampant stories generally brought about by heresy and half-truths when in reality, it is far from the truth. Fact of the matter is, when a hail storm hits an area such as Centennial and unincorporated Arapahoe County in 2009 or Highlands Ranch in 2016, insurance premiums for the entire area will increase within that area regardless if a claim is submitted or not.
Most don’t realize that their premiums will increase no matter what. Great news? No, however it is important to note that insurance is paid year after year for specific reasons such as loss claims that result in damages to personal property.
As we come up on a year, most insurance companies set the maximum duration at one year for submitting a claim. With roof, gutter, and siding repair/replacements averaging anywhere between $10,000 to $45,000 and more, it is no doubt a wise choice to contact a qualified roofing subcontractor such as Team Construction Roofing & Exteriors to determine if a hail claim can be and should be submitted.
The cost of ignoring hail damages can lead to substantial costs.
As a hail impacts any roof material, further degradation occurs as rain, sleet, snow and the freeze/thaw process occurs over the course of a season. As the impacts throughout a roof age, the underlayment decking and ultimately attic space becomes vulnerable to the elements of Mother Nature.
Does it happen overnight? No. But depending on the depth of the impacts from hail, weather, and then sun exposure, the coverings protecting residences from Colorado’s elements become compromised and soon become exposed losing the ability to protect the structure.
Do not hesitate to get a qualified inspection of your roof before it is too late to submit on a claim of your property. Regardless if you take advantage of your policy’s claim process and any payouts, it is highly likely that the premium you paid in 2017 will increase in 2018. Time is of the essence!