According to a recent article from News9.com, Oklahomans may have a new reason to complain about the state’s unpredictable weather. Over time, and especially after this year’s numerous severe storms, insurance companies are taking action to reduce how much they have to pay out for hail- and storm-damaged roofs in areas where hail and wind are likely. Unfortunately, many Oklahoma policyholders don’t realize until too late that their policies now exclude some damages or won’t pay the full costs. Instead of making assumptions about what a homeowner’s policy might cover, it’s increasingly important that policyholders take steps to really understand what happens when a storm affects their roofs.
How Insurance Companies Have Changed Roof Claims in Oklahoma
While most home insurance policies still include roof and hail coverage, those coverages have been reduced in Oklahoma as insurance companies have paid out more in the aftermath of severe storms. This reduction of coverage is accomplished in a number of ways that may not be immediately obvious to the homeowners affected, including:
- Shifting from paying full replacement cost to paying “actual cash value” for damaged roofs
- Raising insurance deductibles
- Changing depreciation rates for roofs or ending coverage earlier in the life of a roof
- Adding cosmetic damage endorsements that exclude many types of roof damage from coverage
Most of the time, policyholders are taken by surprise by these changes in insurance coverage because they simply don’t understand their coverage or haven’t carefully read over their policies recently. This is why it is so important that you check over the policies you currently hold periodically and take time to clarify anything you don’t understand. If you’re still not sure why you’re struggling with a roof claim, it’s a good idea to get help from a legal representative who can explain your rights and find out what is preventing you from maximizing your insurance claim. In many cases, homeowners may not have to settle for a denial or underpayment of their claim. However, they often need help asserting their rights with large, national insurance companies that:
- Work with property damage claims every day and understand the insurance industry
- Are interested in paying as little as possible for claims, especially when large regions are affected
If you are having trouble getting full and fair compensation for your roof damage, don’t wait any longer to get experienced help. Speak with one of our policyholder attorneys today at 1-888-614-7730, and start getting informed about your rights by reading through our free book, Your Essential Guide to Residential Claims.