Hail Damage, Here's What You Should Know Before Filing a Claim
Many Floridians know that hail, wind, and storms often damage homes in the state. Many Floridian insurance companies provide hail damage coverage. However, It’s essential to understand your policy to prevent exclusions from causing problems in case you have to file a claim.
Understanding Your Hail Coverage
It’s essential to know whether your homeowner’s policy covers hail damage or not. If it does cover it, you’ll want to know what the process is and how much the insurer will cover. If you do file a claim, a claims adjuster will examine the hail damage to your home during an investigation. They’ll confirm the extent of the damage to determine what your policy will cover.
Is your policy is All Risk (Open Peril) or a Named Peril policy? A Named Peril policy limits your coverage. A “peril” is the cause of your loss. Perils include things like hurricanes, storms, wind, fire, etc.
RCV vs. ACV
Knowing how Replacement Cost Coverage differs from Actual Cash Value will give you a better sense of the payout you might receive. RCV means that depreciation won’t be factored into your property’s replacement value. You’ll get the full amount, minus your deductible for repairs or replacement of the damaged items. ACV subtracts depreciation from your property’s replacement value, along with the deductible. The amount that’s left will be your settlement.
The deductible is the amount you pay out of pocket to repair damages, so you should know what it is. Many companies will want to see that you’ve paid your deductible before sending you the rest of your payout.
Does your homeowner’s policy have any exclusions? Many insurance companies will exclude specific types of damage like hurricanes, hail, and floods. If one of these exclusions damages your property, you’ll have no coverage.
Hail Damaged My Property. Now What?
Damage caused by hail often leads to other damage. For example, a hail-damaged roof may allow water to leak into the home and weaken ceilings and create conditions that allow mold and mildew to grow. It’s essential to prevent any further damage if you’ve suffered a loss due to hail damage. At Louis Law Group, we use our expert knowledge and experience to help you through every step of the hail-damage claim process. You don’t have to go through this alone.
Louis Law Group is your trusted hail damage lawyer. We can help you navigate the stressful claims process and get your life back to normal. If your claim has been denied or the insurance company has limited your coverage, contact us at (954) 676-4179 . We’ll go through your situation and advise you on the next steps to take.