you<\/strong> thought the storm was bad enough to possibly cause damage \u2026and there are very valid \u201creasons for engaging your insurance company on a claim\u201d.\u00a0 There are ALSO very valid reasons to NOT prematurely engage your insurance company on a claim because there are now too many \u201cFinancial Ramifications\u201d to you.<\/span><\/li>\n<\/ol>\n\u00a8 Now, the roofing industry doesn\u2019t wait around for you to call your insurance company and then for you to call them.\u00a0 They go direct to you with a business model that allows them to drive the entire process!\u00a0 Many times they are great roofers; you confidently use them again \u2026because they did a great roofing job; you are happy with them!\u00a0 And when you do, do they ever consider the \u201cserious financial ramifications\u201d that are now created for you with your insurance company?\u00a0 You find out only after it\u2019s too late!<\/span><\/p>\n\n- 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 \u2026this is a good thing).<\/span><\/li>\n<\/ol>\n
\u00a8 Now, at the recommendation of your roofer, you have damage & should get it checked out by your insurance company.<\/span><\/p>\n\u00a8 Loss Ratios<\/span><\/p>\n\n- A loss ratio is the Losses (claims amounts paid out) divided by the Premiums (what everyone pays for insurance) \u2026i.e:<\/span> \u00a0[\/expand]\u00a0happening in both the roofing AND insurance industries.<\/li>\n<\/ul>\n<\/li>\n
- There are now [expand title=’\u201cserious financial ramifications\u201d’ \u00a0rel=”ramifications” trigclass=”drill”\u00a0]\n
\n- Premium increases on next renewal<\/span>\n
\n- Increases by double; triple; even quadruple are common after heavy losses \u2026even in other parts of the country!<\/span><\/li>\n
- Think about it: Your roofer has indicated you have damage; you get your insurance company out to \u201cinspect the roof\u201d:It is now normal for a typical HOA\u2019s $40,000 annual insurance premium to now become $80,000, $120,000 and higher because of loss history \u2026talk to your property manager or piers \u2026it\u2019s happening right now.<\/span>\n
\n- This is the FIRST TIME your insurance company has their eyes on the roof.<\/span><\/li>\n
- They now access the true age, condition, likelihood of future damage by a storm;<\/span><\/li>\n
- If the underwriting risk is increased upon physical inspection (it rarely isn\u2019t), your premiums, deductible, coverage is impacted as soon as allowed by law!<\/span><\/li>\n<\/ul>\n<\/li>\n
- <\/li>\n<\/ul>\n<\/li>\n
- Special Wind\/Hail Deductibles of 4% to 10%<\/span>\n
\n- This is ALWAYS a percent of the Property Value \u2026never a percent of the loss:<\/span>\n
\n- 4% of a $2,000,000 valued property is $80,000! \u2026Meaning you might be self-insuring the roof!<\/span><\/li>\n
- 10% of a $2,000,000 valued property is $200,000! \u2026Meaning you are self-insuring the roof!<\/span><\/li>\n
- Have you prepared your HOA resident for the future assessment on a self-insured roof?<\/span> [\/expand]to engaging your insurance company too soon to adjust your commercial property after a recent storm.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Why you should get an [expand title=’\u201cIndependent Assessment\u201d’ rel=”assessment” trigclass=”drill”]\n
\n- An independent assessment is a service we provide free of charge.\u00a0 It includes:<\/span>\n
\n- Documentation of your roof condition now \u2026before the next storm; and our thoughts regarding your options.\u00a0 By NOT being roofers, we give you confidence, backed up by experience in both the Roofing AND Insurance industries.<\/span><\/li>\n
- Our counsel that considers the \u201cFinancial Ramifications\u201d of reporting a claim from the insurance perspective AND your long term objectives.\u00a0 Don\u2019t let a roofer push you into a claim that may not be in your interests \u2026right now.<\/span><\/li>\n
- 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 \u201cresources\u201d at the right time to get the job done right.<\/span> [\/expand]\u00a0of your roof, siding, gutters, etc. now; so you\u2019re ready to deal with both your insurance company AND the roofing industry after a storm to protect your financial interests.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n
- Residential Property Owner<\/li>\n<\/ul>\n<\/ul>\n<\/li>\n<\/ul>\n
\n<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"So \u2026you think a \u201cfree assessment\u201d is really \u201cFREE\u201d? Well, technically, I\u2019m sure the actual \u201cassessment\u201d is free \u2026if you consider \u201cfree\u201d being you pay nothing now \u2026or to the roofer.\u00a0 However, check out how\/why this free \u201cassessment\u201d can cost you tens of thousands if you are an HOA or Commercial Property Owner and why […]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"open","ping_status":"open","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/myroofreps.com\/wp-json\/wp\/v2\/pages\/81"}],"collection":[{"href":"https:\/\/myroofreps.com\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/myroofreps.com\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/myroofreps.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/myroofreps.com\/wp-json\/wp\/v2\/comments?post=81"}],"version-history":[{"count":9,"href":"https:\/\/myroofreps.com\/wp-json\/wp\/v2\/pages\/81\/revisions"}],"predecessor-version":[{"id":180,"href":"https:\/\/myroofreps.com\/wp-json\/wp\/v2\/pages\/81\/revisions\/180"}],"wp:attachment":[{"href":"https:\/\/myroofreps.com\/wp-json\/wp\/v2\/media?parent=81"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}