Guidance for Homeowners Following Recent Windstorms

I understand the concerns many homeowners in Oklahoma face when dealing with the aftermath of high wind events. The recent windstorms have left many of you wondering about the state of your roofs and how to navigate the complexities of insurance claims. In this blog post, we'll explore the effects high winds have on roofs in Oklahoma, discuss Wind and Hail deductibles, and shed light on the intricacies of roof payment schedules. We aim to provide you with valuable insights to help you make informed decisions during this challenging time.

The Impact of High Winds on Roofs

High winds can cause significant damage to roofs, particularly here in Oklahoma because these wind storms are so frequent. The force of strong winds can lift shingles, break tiles, and even tear sections of the roof off entirely. According to the Insurance Institute for Business & Home Safety (IBHS), roofs are particularly vulnerable to wind damage if they are not properly installed or maintained.

Common Types of Wind Damage

• Shingle Lifting: High winds can lift shingles, creating gaps that expose the underlayment to the elements.
• Tile Breakage: Tiles, especially older ones, can crack or break under the pressure of intense wind.
• Roof Tearing: In severe cases, entire sections of the roof can be torn off, leading to substantial damage and potential water infiltration.

Navigating Wind and Hail Deductibles

One of the most confusing aspects for homeowners is understanding Wind and Hail deductibles. These deductibles are specific to wind and hail damage claims and are separate from your standard homeowners insurance deductible. Wind and Hail deductibles can vary significantly depending on your policy and insurance provider. They are often calculated as a percentage of your home's insured value. For example, if your home is insured for $300,000 and your Wind and Hail deductible is 2%, you would be responsible for $6,000 out of pocket before your insurance covers the remaining costs.

Why Wind and Hail Deductibles Can Be Confusing

• Separate Deductibles: Wind and Hail deductibles are distinct from your standard deductible, which can lead to confusion when filing claims.
• Percentage-Based: These deductibles are often percentage-based, making it crucial to understand how they are calculated.
• Policy Variations: Deductible amounts and calculations can vary between different insurance providers and policies.

Understanding Roof Payment Schedules

Roof payment schedules are another area that can lead to confusion during insurance claims. Insurance policies typically cover roof replacement based on actual cash value (ACV) or replacement cost value (RCV).

Actual Cash Value (ACV) vs. Replacement Cost Value (RCV)

• Actual Cash Value (ACV): ACV takes depreciation into account, meaning you may receive less money for older or worn-out roofs. For example, if your roof is 15 years old and has a 20-year lifespan, the payout will reflect the depreciated value.
• Replacement Cost Value (RCV): RCV covers the full cost to replace your roof with materials of similar kind and quality without factoring in depreciation.

Why Roof Payment Schedules Can Be Confusing

• Depreciation Factors: Understanding how depreciation affects your payout can be challenging, especially for older roofs.
• Coverage Differences: Policies that offer ACV versus RCV can have significantly different financial impacts.
• Documentation: Proper documentation and proof of damage are essential for ensuring you receive the appropriate payout.

Steps to Take After Wind Damage

Navigating the aftermath of wind damage can be overwhelming, but taking the right steps can help streamline the process and ensure you receive the support you need.

Immediate Actions

• Document the Damage: Take photos and videos of the damage to provide evidence for your insurance claim.
• Temporary Repairs: Make temporary repairs to prevent further damage, such as covering exposed sections with tarps.
• Contact Your Insurance Provider: Notify your insurance company as soon as possible to start the claim process.
• Hire a Professional: Engage a licensed contractor to assess and estimate the damage.

Understanding Your Policy

• Review Your Coverage: Familiarize yourself with your insurance policy details, including Wind and Hail deductibles and roof payment schedules.
• Ask Questions: Don't hesitate to ask your insurance provider for clarification on any confusing aspects of your policy.

Conclusion

High winds can wreak havoc on roofs, leading to significant damage and challenging insurance claims. By understanding Wind and Hail deductibles, roof payment schedules, and the steps to take after wind damage, homeowners in Oklahoma can better navigate the complexities of insurance claims. At Womack Insurance Agency, we are here to assist you every step of the way and ensure you receive the support and coverage you deserve.

For more information, visit our website or contact us directly for personalized assistance.