Residential Hail Damage
By Nicholas Testa on 2019/06/04 23:04:50
Homeowners buy insurance because they want to protect their most valuable investment and it is certainly true that one of the most common and damaging threats to homes all across Texas is hail. Despite their obvious contractual obligations, insurance companies don�t always follow through on their obligation to pay out valid claims. Insurance companies often do not carry out a thorough investigation and often undervalue the true damage to your home. Even worse, insurance companies will often try to find ways to pay for less than the actual repair value by claiming that: your property had preexisting damage. Some insurers will attempt to claim that your roof was already damaged, your car was previously dented. If that is not possible many companies will further attempt to contend that the contractor you hired was too expensive among whatever other exclusions they can find.
Warranties vs. Insurance Claims
Some residents may choose to rely on warranties from their home�s manufacturer or contractor to cover their repair costs rather than filing an insurance claim to repair the hail damage. Even if the home is relatively new and the roof is under warranty, almost every home builder and contractor warranty contains language that specifically excludes hail storm damage from their coverage.
Property Inspections and Damage Assessment
This will be the most crucial part of any dispute you have with the insurance company. Even when the insurance company admits they are obligated to pay you, disputes often arise over the true value of your claim. Unfortunately, homeowners will often attempt to inspect their property on their own after a storm and thus they often inadvertently and rather severely underestimate the extent of the damage. Insurance companies count on this and will not do the thorough investigation, which is needed unless the pressure is put on them to do so.
So how do you put this pressure on? If your house has gone through a serious hailstorm, it is recommended that a qualified inspector examines your home. While homeowners can find obvious signs, such as broken windows or missing shingles, a trained inspector can find more subtle examples of seemingly innocuous damage that can lead to more serious problems in the months and years to come. Homeowners can use the inspector's report in their hail storm damage insurance claims to be sure that they do not miss out on receiving as much of their benefits as possible.
'Actual Cash Value'
The increase in insurance claims being made over hail damage has led to many insurance companies adopting the practice of assessing repair costs at 'actual cash value.' The insurer may choose to cover the hail storm damage to restore it to its current condition, less any depreciation. Owners of older homes would receive a claim amount far less than the full replacement cost and would be forced to pay the difference from other sources.
Know Your Hail Storm Damage Rights
To find out how we can help you with a hail storm damage lawsuit, contact us today. Our intake team will quickly connect you to a hail storm damage attorney to take down the details of your case. You can also fill out the 'Free Case Evaluation' form at the top of this page.
Commercial Hail Damage
Business and property owners buy insurance to be responsible and to ensure their viability in the event of the unforeseen. However, insurance companies will try to save themselves money by undervaluing claim and by hoping that you won�t fight back. Insurance companies might not do a thorough investigation and often undervalue the true damage to your property and loss of income while you are closed. Insurance companies will often try to find ways to pay for less than the actual repair value by claiming that your property depreciated before the hail damage or that your lost business, income, and stock claims are too speculative.
Property Inspections and Damage Assessment
This will be the most crucial part of any dispute you have with the insurance company. Even when the insurance company admits they are obligated to pay you, disputes often arise over the true value of your claim. In order to get insurance companies to take you seriously, you need a professional inspector to assess the damage to your property. The insurance company will have their own appraisal expert come out to your property and if you do not have one to counter your giving the insurance company the opportunity to take advantage of you. Business owners can use the inspector�s report in their hail storm insurance claims to be sure that they do not miss out on receiving as much of their benefits as possible.
'Actual Cash Value'
The increase in insurance claims being made over hail damage has led to many insurance companies adopting the practice of assessing repair costs at �actual cash value.� The insurer may choose to cover the hail storm damage to restore it to its current condition, less any depreciation. Owners of older buildings would receive a claim amount far less than the full replacement cost and would be forced to pay the difference from other sources.
Know Your Hail Storm Damage Rights
To find out how we can help you with a hail storm damage lawsuit, contact us today. Our intake team will quickly connect you with a hail storm damage attorney to take down the details of your case.
Call the Testa Law Group at 877-780-9052 to begin your path to recovery with a free consultation today.
