Studies of insurance payouts from recent years have found an emerging trend. Over the last several years, North Texas hailstorms have comprised three of the ten most costly natural disasters to affect building owners in the state of Texas. Already, the state of Texas has experienced multiple high-impact hail storms during the 2021 hail season. But although many homeowners are aware of the potential for hail damage, they may not be aware of additional issues compounding the problem.
The Coronavirus pandemic has negatively affected the economy in a multitude of ways. Recently, roofing experts in Texas have been confronted with a high demand for hail repair and a low supply of materials with which to make the repairs. Parts such as shingles are in low supply, leading to an increase in costs and delays getting to the many roof repairs that are necessary after a large hail event.
For these reasons, roofing experts at Money Roofing and Construction are urging North Texas homeowners to review and update their homeowners insurance policies. Homeowners should ensure that their policies are adequate enough to cover the potentially high costs of hail damage repair, as well as any damage their homes may take between the hail storm and when repairs can be made.
In particular, the experts at Money Roofing encourage homeowners to take a look at their total coverage, paying close attention to the deductible. The hail and wind deductible might be a flat rate, yet it can be adjustable in the range of 1% to 5% of the total coverage.
Anyone who is unfamiliar with the language of their policies should consult with their insurance representative to ensure that they have adequate coverage. In these tough economic times, it’s more important than ever that homeowners prevent themselves from getting stuck with high out-of-pocket costs that they aren’t equipped to pay.
About Money Roofing and Construction
Money Roofing and Construction is a local roofing company that provides transparency and high-quality roofing services to building owners throughout Dallas/Fort Worth. Run by Tim Money, they have been serving local home and business owners for decades.