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The Pros and Cons of Filing an Insurance Claim: When Is It Worth It?
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1 week 6 days ago #645380
by Ron Snouffer
The Pros and Cons of Filing an Insurance Claim: When Is It Worth It?
Ultimately, the decision is yours.
One of my clients experienced significant roof damage from a hailstorm in March 2024. However, they were unaware of the extent of the damage until fall 2024, when they began noticing active leaks. They hired a roofing contractor who performed repairs for $28,000, but unfortunately, the leaks soon returned — worse than before. Attempts to contact the original roofer were unsuccessful.
A second roofer was called in, who identified major hail damage and recommended a full roof replacement. At that point, the client reached out to me. Upon inspection, I confirmed that the roof sustained storm damage and should have been reported when the issue first arose. Because they delayed filing a claim, the policy had shifted — after 12 months, it converted to Actual Cash Value (ACV) coverage rather than Replacement Cost Value (RCV).
As a result, the client lost hundreds of thousands of dollars in potential coverage and now lacks the funds necessary for a proper roof replacement. This situation is becoming increasingly common. As more properties age without timely roof inspections or claims, roof conditions will significantly impact property values and resale opportunities.
The takeaway: Always ensure you have a qualified professional inspecting your property after a storm. Proper inspections — and timely action — can make a major financial difference.
Ultimately, the decision is yours.
One of my clients experienced significant roof damage from a hailstorm in March 2024. However, they were unaware of the extent of the damage until fall 2024, when they began noticing active leaks. They hired a roofing contractor who performed repairs for $28,000, but unfortunately, the leaks soon returned — worse than before. Attempts to contact the original roofer were unsuccessful.
A second roofer was called in, who identified major hail damage and recommended a full roof replacement. At that point, the client reached out to me. Upon inspection, I confirmed that the roof sustained storm damage and should have been reported when the issue first arose. Because they delayed filing a claim, the policy had shifted — after 12 months, it converted to Actual Cash Value (ACV) coverage rather than Replacement Cost Value (RCV).
As a result, the client lost hundreds of thousands of dollars in potential coverage and now lacks the funds necessary for a proper roof replacement. This situation is becoming increasingly common. As more properties age without timely roof inspections or claims, roof conditions will significantly impact property values and resale opportunities.
The takeaway: Always ensure you have a qualified professional inspecting your property after a storm. Proper inspections — and timely action — can make a major financial difference.
1 week 6 days ago #645380
by Ron Snouffer
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