Wind Hail Insurance
Wind Hail Insurance
Selective Insurance Group Announces Catastrophe Losses
Selective Insurance Group, Inc. today announced total pre-tax catastrophe losses of approximately $24 million for the first quarter 2010. Â These losses total $0.38 per diluted share, after tax, as calculated using our 2010 estimated annual effective tax rate. Â Three major snow, ice and wind storms in February, and two major rain, hail and wind storms in March, in the Northeast and Mid-Atlantic …
wind and hail insurance coverage post Katrina
Insurance Company refused to pay for damage to roof. One side of the roof has wind damage, and the other hail?
they did offer to pay $1600.00 , but on a steep roof (12/12 pitch), shouldn’t they have to pay more?
This is about a 20 square roof.
This might rely on whether or not you have replacement cost on the dwelling. If you don’t have, the insurance company may be depreciating the value of the roof, based on it’s age.
Example: If a roof is 15 yrs. old, and it was a 20-year shingled roof, it has depreciated by 75%.
Another reason could be if you had your house insured for less that 80% replacement.
Correction:
In other words, let’s say that your home is valued at $100,000, and you only have it isured for $50,000. It should have been insured for at least $80,000. So it would have been insured at 62.5% Let’s say that to replace the roof it would cost $2560. $2560 X .625 = $1600.
Have your agent take a look and see if you are adequately insured.