SAN ANTONIO – Before tornadoes, hurricanes, wind or hailstorms strike, meteorologists caution the public to take shelter, prepare their property and brace for impact.
Still, the impact of severe weather is not only physical. It can also hit wallets hard, especially if a roof needs fixing.
Rich Johnson, a spokesperson for the Insurance Council of Texas, said those who have homeowners insurance need to read through and review their policy at least twice a year.
Johnson said doing so can give policyholders some assurance to what their insurance company will pay for if they need to make a claim.
Outside of flooding, Johnson said a typical home policy should cover or pay for anything damaged by weather.
“That’s including any damage that’s done inside if it was raining or hailing,” Johnson said. “And then, of course, your roof.”
Whether it is extreme heat, rain, wind, snow, or hail, the roof takes all the abuse Mother Nature dishes out. All of that constant pummeling can wear down rooftops, especially hailstones.
Cole Blevins, a sales manager with Rhino Roofers, said hailstones can lift, tear, loosen and put dents in shingles.
When it rains, Blevins said those dents could potentially hold water. Over time, the water and/or the moisture can begin to seep into the shingle.
“All these shingles are gonna start to wash out, exposing the asphalt,” Blevins said. “Once that asphalt is exposed to the sun, you’re going (to) have exposed fiberglass and that fiberglass is gonna act like a sponge. Anytime it comes into contact with any moisture, it’s going to soak that moisture up, and eventually, that moisture is gonna work its way into your home.”
When damage from leaks is discovered, it could require repairing or replacing the roof altogether.
“The majority of the homes in the San Antonio area, probably a safe ballpark, is anywhere from $15,000 to $22,000, just depending on the materials,” Blevins said.
Depending on the type of roofing materials needed, Johnson said the price for repairs or replacement can escalate from there.
Policyholders know from the start that their initial out-of-pocket expenses are the deductible.
“What people aren’t usually used to is the difference in their deductibles,” Johnson said. “So some companies, some insurance companies, will have a different deductible for your roof or for wind and hail damage versus, like, a fire.”
“That may be a different percentage of your home’s value or it might be a set amount,” Johnson added.
He said policyholders need to be on the lookout for two terms that can also dictate out-of-pocket expenses: replacement cost value and actual cash value.
According to Johnson, if you have replacement cost value coverage, homeowners pay their deductible, and the insurance company will pay the rest.
Anyone with an actual cash value policy means the insurance adjuster will look at the roof and ask questions about it. The adjuster will then come up with a dollar amount that they believe the damaged roof is worth.
“If you have actual cash value, you’re gonna get a depreciated value on that roof, so more money could come out-of-pocket,” Johnson said.
The depreciated value is determined by the answers to several questions. Those questions include:
- When was the roof installed?
- How old is the roof?
- What kind of shingles does it have?
Johnson said lower premiums also often mean higher deductibles and encouraged customers to make sure they can afford their deductibles when selecting coverage.
“When the worst happens and you have to replace a $20,000 roof and you’re going to be $7,000 out of pocket, what percentage of that can you cover out of pocket, is what you need to be looking at,” Johnson said.
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