July 21, 2019

Storm Damage Assessment


  • So …you think a “free assessment” is really “FREE”?
  • Well, technically, I’m sure the actual “assessment” is free …if you consider “free” being you pay nothing now …or to the roofer.  However, check out how/why this free “assessment” can cost you tens of thousands if you are an HOA or Commercial Property Owner and why you need My Roof Reps now, more than ever …and why only an "Independent Assessment"
    • An independent assessment is a service we provide free of charge.  It includes:
      • Documentation of your roof condition now …before the next storm; and our thoughts regarding your options.  By NOT being roofers, we give you confidence, backed up by experience in both the Roofing AND Insurance industries.
      • Our counsel that considers the “Financial Ramifications” of reporting a claim from the insurance perspective AND your long term objectives.  Don’t let a roofer push you into a claim that may not be in your interests …right now.
      • When it is time to file a claim, we draw on years of experience to deal with your insurance company and pull in the right “resources” at the right time to get the job done right.
     is your best chance at “FREE”:
    • You are in the middle of a "game changing paradigm shift"
      Property Owners are now in the middle:
      1. It used to be that you (the consumer of insurance) called your agent or insurance company after a storm IF you thought the storm was bad enough to possibly cause damage …and there are very valid “reasons for engaging your insurance company on a claim”.  There are ALSO very valid reasons to NOT prematurely engage your insurance company on a claim because there are now too many “Financial Ramifications” to you.

      ¨ Now, the roofing industry doesn’t wait around for you to call your insurance company and then for you to call them.  They go direct to you with a business model that allows them to drive the entire process!  Many times they are great roofers; you confidently use them again …because they did a great roofing job; you are happy with them!  And when you do, do they ever consider the “serious financial ramifications” that are now created for you with your insurance company?  You find out only after it’s too late!

      1. Underwriting your risk (determining your coverage and premium) is typically derived from your agent completing an application for insurance on your behalf and taking a street-level picture of your property in the best possible light (this maximizes coverage and minimizes premiums …this is a good thing).

      ¨ Now, at the recommendation of your roofer, you have damage & should get it checked out by your insurance company.

      ¨ Loss Ratios

      • A loss ratio is the Losses (claims amounts paid out) divided by the Premiums (what everyone pays for insurance) …i.e:  
       happening in both the roofing AND insurance industries.
  • There are now “serious financial ramifications”
    • Premium increases on next renewal
      • Increases by double; triple; even quadruple are common after heavy losses …even in other parts of the country!
      • Think about it: Your roofer has indicated you have damage; you get your insurance company out to “inspect the roof”:It is now normal for a typical HOA’s $40,000 annual insurance premium to now become $80,000, $120,000 and higher because of loss history …talk to your property manager or piers …it’s happening right now.
        • This is the FIRST TIME your insurance company has their eyes on the roof.
        • They now access the true age, condition, likelihood of future damage by a storm;
        • If the underwriting risk is increased upon physical inspection (it rarely isn’t), your premiums, deductible, coverage is impacted as soon as allowed by law!
    • Special Wind/Hail Deductibles of 4% to 10%
      • This is ALWAYS a percent of the Property Value …never a percent of the loss:
        • 4% of a $2,000,000 valued property is $80,000! …Meaning you might be self-insuring the roof!
        • 10% of a $2,000,000 valued property is $200,000! …Meaning you are self-insuring the roof!
        • Have you prepared your HOA resident for the future assessment on a self-insured roof?
    to engaging your insurance company too soon to adjust your commercial property after a recent storm.
  • Why you should get an “Independent Assessment”
    • An independent assessment is a service we provide free of charge.  It includes:
      • Documentation of your roof condition now …before the next storm; and our thoughts regarding your options.  By NOT being roofers, we give you confidence, backed up by experience in both the Roofing AND Insurance industries.
      • Our counsel that considers the “Financial Ramifications” of reporting a claim from the insurance perspective AND your long term objectives.  Don’t let a roofer push you into a claim that may not be in your interests …right now.
      • When it is time to file a claim, we draw on years of experience to deal with your insurance company and pull in the right “resources” at the right time to get the job done right.
     of your roof, siding, gutters, etc. now; so you’re ready to deal with both your insurance company AND the roofing industry after a storm to protect your financial interests.
  • Residential Property Owner