- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Insurance claim with damage slightly over deductable.
Posted on 8/30/12 at 3:49 pm
Posted on 8/30/12 at 3:49 pm
I have a $5000 named storm hurricaine deductable. Looks like i am going to need a new roof and have some minor water leak damage in a couple of areas. My guess is that I am looking at approximately $7500 in damage.
I finally found a decent company to write a policy and get off Citizens this year. I'm thinking it makes no sense to file a claim for this level of damage. Any thoughts?
I finally found a decent company to write a policy and get off Citizens this year. I'm thinking it makes no sense to file a claim for this level of damage. Any thoughts?
5
Posted on 8/30/12 at 3:54 pm to DandyPimp
File the claim. Your rate will be going up anyway.
Posted on 8/30/12 at 3:54 pm to DandyPimp
I would pay out of pocket if I can afford it and write off like a mofo during tax time.
Posted on 8/30/12 at 3:59 pm to DandyPimp
Price is going to be going up on the cost of a roof. Get a couple of estimates for the roof then decide if you want to file a claim. What kind of water damage? Water stains or damage to the drywall ceiling? Popcorn or painted ceiling texture? How big is the continuous ceiling of these rooms?
Posted on 8/30/12 at 4:00 pm to DaphneTigah
I wish some insurance agents who really know would address this. I have the same dilemma and I'm sure lots of others do, too.
Posted on 8/30/12 at 4:06 pm to DandyPimp
I've always thought the deductable should have a copay buffer for the near deductable claims.
Like make you pay the first 3000, then match you dollar for dollar for the remainder.
Like make you pay the first 3000, then match you dollar for dollar for the remainder.
Posted on 8/30/12 at 4:11 pm to wickowick
quote:
Price is going to be going up on the cost of a roof. Get a couple of estimates for the roof then decide if you want to file a claim. What kind of water damage? Water stains or damage to the drywall ceiling? Popcorn or painted ceiling texture? How big is the continuous ceiling of these rooms?
I have a rough estimate on the roof from a friend in the business that has been to my house but is in another market - he estimates about $5000. I have some yellowish stains on a popcorn ceiling. Ceiling area is roughly 18 x 18.
Posted on 8/30/12 at 4:11 pm to lesserof2weevils
Rates might go up as a whole, you are not supposed to be dropped for filing a catastrophe claim, but they will also look at your history. You might and might not see rates increase even without a claim being filed, but if you leave this company and go to another company that claim will follow you...
Posted on 8/30/12 at 4:15 pm to DandyPimp
Give me your zip code, the number of squares and the type of shingles and I will write a quick estimate to see what Xactimate (estimating software used by insurance people) has for a price in your area. It won't be 100% but it will be pretty close...
Posted on 8/30/12 at 4:22 pm to DandyPimp
quote:
estimate on the roof from a friend
quote:
estimates about $5000
Does your friend know it's not 1994 anymore?
My dad had his roof replaced last year and the initial estimate was over $15k. It was a lot more than a "basic roof job", but the roof was at least 85-90% of the cost.
Posted on 8/30/12 at 4:24 pm to wickowick
quote:
Get a couple of estimates for the roof then decide if you want to file a claim. What kind of water damage? Water stains or damage to the drywall ceiling? Popcorn or painted ceiling texture? How big is the continuous ceiling of these rooms?
Adjuster in SouthLA for years.... solid advice here. Roofs cost a lot more than you might think. How big is the home? Is the roof steep? No chance for repairs?
Posted on 8/30/12 at 4:24 pm to wickowick
70114. 20 squares estimate hip roof. Square footage of House is 1649, although about 300 sf of that is an addition with a slightly sloped roof that was replaced 3-4 years ago. Not sure on the shingle type, but nothing out of the ordinary.
Posted on 8/30/12 at 4:27 pm to DandyPimp
quote:
I finally found a decent company to write a policy and get off Citizens this year
Sounds like you're in a tough area in regards for finding insurance. If so, I'd probably lean to not filing the claim. If it is the only one you've had in the past 5 years, you probably won't get non-renewed, but, if you have to file a water, theft, or another weather claim in the next few years you'll probably get dropped. That's the risk you'll have to take.
If they only pay $2500, they'll almost definitely get that back with surcharges in your premium over the next 3 years. If you can pay it out of pocket without draining your savings, I'd recommend paying it yourself. Let the contractors know you're paying out of pocket and they may help you on the price (especially if you can tarp it and wait a few weeks while they rack up on the insurance claims).
Posted on 8/30/12 at 4:28 pm to DandyPimp
quote:
20 squares estimate hip roof
5K ish may be reasonable for the roof if it is not steep (does not seem to be if only 20 sq) and it is a basic 3 tab. 250/sq is a pretty strong price
Posted on 8/30/12 at 4:28 pm to DandyPimp
I am showing ~$6700...
Posted on 8/30/12 at 4:32 pm to Slickback
quote:
If they only pay $2500, they'll almost definitely get that back with surcharges in your premium over the next 3 years.
No way they take an extra 833 per year..... thats just not accurate.
Most likely thing that will happen is that you will loose any discounts you may have for not having and claims (usually around 10% or so) and your rates will go up just like everyone elses in the state.
Multiple claims in a short amount of time can get you dropped or non-renewed though and your claim record follows you everywhere.
Posted on 8/30/12 at 4:33 pm to DandyPimp
Roof and interior is showing around $7700...
Posted on 8/30/12 at 4:34 pm to wickowick
For Katrina and Gustav, had zero claims. Without the flood waters, the only issue was a down fence. The flood waters put 8 inches in the house. Lots of sheetrock repair, painting, cabinets, furniture, yada yada yada.
Posted on 8/30/12 at 4:35 pm to KABoss02
quote:
No way they take an extra 833 per year..... thats just not accurate.
Its not likely to go up that much for a weather claim, but can definitely happen. I've seen it numerous times. But with the area he's in, he probably has a "take out" company. They are not equipped to handle a storm and may do like so many others have done and put huge rate increases for areas they want to get out of.
Posted on 8/30/12 at 4:39 pm to Slickback
quote:
Its not likely to go up that much for a weather claim, but can definitely happen.
You said that if he was going to get 2500 indemnity that they would get that back in surcharges and premium within 3 years which equals 833 per year increase..... just stating that is not at all likely to occur.
Page 1 of 2
Popular
Back to top
Follow TigerDroppings for LSU Football News