Storm Damage & Insurance Advice

[skolbe]

So last year our home had $12k in damage and the wife's 2 week old Mercedes SUV received 87 hail dents in April of 2011. It was $2500 in paintless dent removal. So we got hail 2 days ago and I have siding damage - can't tell on the roof. Last time - I lost sections of the roof. Plus my car and the wife's each have about 10 hail dents. Advice on dealing with insurance? We had never had a claim on anything with the house ever. The car had been 15 years since a claim. Been with State Farm forever. My office is a half mile from the house. So if the home get's hit so does the office. Advice on insurance claims or not. If I replace the siding with just a few pieces it won't match. It is vinyl siding. How do insurance companies look at these types of losses?

 

[HUMPH]

Did you claim the damage last year?

 

[320Bob]

State Farm is very good with claims and will send an adjuster out. I am fairly sure your premiums reflect hail damage claims made by others including you so making a claim with not necessarily raise your premiums in the future. If many in your area file claims from that storm you will likely see an increase in your premiums in the future.

 

[fwebster]

Not only will you see an increase if the pool you are in suffers higher than normal claims experience, but you will also lose any no-loss credits you have in your premium.

This boils down to what makes the most financial sense. Don't rely on an insurance adjustor for determining damage. Get a reputable contractor whom you trust to look at the roof and siding and advise you as to what if any repairs are needed, then get a cost for the repairs. You can then decide if filing the claim is worthwhile, but even more important, you have the facts with which to deal with the insurance company.

BTW, now is the time that you can pat yourself on the back for paying extra for replacement cost coverage................

 

[Bob & Sue]

We had a wind storm about 5 years ago that tore off about six shingles I replaced them myself the next year we had another storm lost about 10 shingles and loosened a lot of others. I had 5 companies out for appraisals we finally had an insurance adjuster come out they replaced the whole roof because of the loose shingles in other areas. He told me if it would have just been lost shingles they would have just replaced those. Our house insurance hasn't gone up in fact the last 2 renewals it went down.

 

[skolbe]

Last year filed a claim. Great idea get a contractor out to look at it and get an estimate.

 

[Dave 205]

We have a bunch of policies with State Farm and I've been with them in some way since 1982. Last year my wife had our first car claim in about 15 years. We had "accident" and "claim free" discounts. The accident was expensive, about $6K to our car, and a 2005 Accord in good shape met its maker. So, maybe $20K damage. I asked our agent about increases, he said not likely much. And, we've had both cars and the boat renew with no increase. I think the car insurance biz is very competitive right now.

I have not had a home claim since 1995. In the past few years, I've seen about a 25% increase in my homeowners. My deductible is a 1% of value bases, so it is over $3K, I'm not likely to make any petty claims! I called my agent about a year ago, (before the car accident) and was pretty agitated about the increases. He said it is because our area has been socked by a bunch of claims in general over the past few years. Mostly hail, high wind, and a minor tornado a few years ago, and that is driving up my rates.

Based on my experience, I'd say your homeowners is going up anyway if your neighbors are all making claims. Good luck with what you do.