Hail Damage. Now What?
8 Steps to Maximize Your Insurance Claim
Step 1: Check Your Insurance Policy
Call your agent! Seriously, and ask them what would happened if a huge hail storm hit tomorrow and only two sides of your house were damaged. Review your homeowner’s insurance policy with them. Make sure you have adequate coverage for your home. Understand (1) what type of policy you have and (2) how much your deductible will be. Most homeowner policies have replacement cost value (RCV) coverage which covers the full cost of replacing whatever has been damaged. This is the best type of policy to have. There are some restrictive policies such as actual cash value coverage (ACV), which only covers the present value of the damaged materials. For example, if you have a ten-year-old roof- they would pay to replace the roof minus ten years of wear. Also, confirm your deductible. Your deductible is the out-of-pocket expense you pay directly to the contractor. Ideally, you want a low deductible, even as low as $500. Even more ideally, you want some kind of rider (add-on coverage) on your policy that would allow you to get all of the siding replaced if what you have currently is no longer manufactured.
Step 2: Open an Insurance Claim
Most people open the claim with their insurance company online or over the phone. Your insurance company will have a claim center to verify you are the policyholder and will ask you basic questions about the hail damage. Opening a claim with your insurance company should be a straight forward process. The insurance company will need to know the type of damage, what was damaged, and the date and time the damage occurred. Once you have a claim number, your claim is opened. Keep the claim number because you will need it the whole way through the process.
Step 3: Call Colorado Siding Repair
Schedule your appointment with Colorado Siding Repair. Our team will assess the damage and discuss your goals for moving forward on your siding project. We will discuss your insurance policy and your strategy for maximizing the insurance claim. Feel free to discuss other home improvement goals you might have for the exterior of your home as well.
Step 4: Schedule the Insurance Adjuster Review
To validate the damage your insurance company sends a claims adjuster to inspect your property. The adjuster will also determine the extent of the damage and decide if coverage is warranted. Most of the time the hail damage is approved for full coverage. However, in the event the insurance coverage is denied or partially approved, let Colorado Siding Repair know about it. We will work with you and with the insurance company to get the coverage you are entitled to.
Step 5: Review Insurance Estimate & Proceeds
Shortly after the inspection, you will receive a written estimate from your insurance adjuster. The insurance company will issue a check for partial payment and will deliberately hold back the rest of the money as an incentive—ensuring you get the work done. However, if the repairs are never completed, the insurance company will withhold the final amount of money for your claim. As you can see, it is important for you to follow through and get the home siding repairs completed. This could also impact your future home insurance coverage.
Step 6: Compare Insurance Estimate to Colorado Siding Repair’s Proposal
By law, the insurance company is required to settle the claim at a fair price. The insurance estimate should, ideally, cover all necessary repairs. If the estimate is inadequate in any way, Colorado Siding Repair will reconcile with your insurance company. Part of our job is to make sure everything is properly covered and paid for. Sometimes Colorado Siding Repair needs to get involved to help you to get the supplements you need to get the work done.
Step 7: Complete the Siding Repair/ Replacement
Once the final amount for your insurance claim is confirmed you will sign the contract with Colorado Siding Repair. This will include everything to be included in the insurance claim and any additional “add-ons” you might consider when renovating your home exterior. Your insurance policy gives you a certain window of time to have the repairs completed and it is important that the repairs are completed reasonably soon to prevent further damage. Colorado Siding Repair will finalize the new materials and color selections for the project and walk you through the project from tear-off to final walk-through.
Step 8: Finish Up with Your Insurance Company
Insurance companies are large corporations and the amount of information and paperwork they generate can be impressive. Send the insurance company the final invoice and/or certificate of completion. Work with Colorado Siding Repair to complete the necessary paperwork and documentation they might require. We will guide you from the initial opening of the claim through the final payment to the completion of the insurance claim process.
Colorado Siding Repair is happy to guide and serve you and your family through the insurance claim process– transforming a process that might feel overwhelming to an accomplishment and pride in ownership.
Why choose James Hardie?
James Hardie fiber cement siding is our number one recommended product for Denver. James Hardie is the most trusted brand in the country and we love installing it in Denver. Their products are top of the line, durable and beautiful. Your home will be set apart in the neighborhood with James Hardie. Call Colorado Siding Repair to set your appointment today!
