Tag: Dallas roofing companies

Home Insurance and Roof Depreciation Schedules

I sat in a meeting with one of our carriers last week and heard an interesting statistic. On average, insurance companies who wrote Texas home policies in 2016 paid $1.30 out in storm related claims last year for every $1.00 of premium they received. That doesn’t include non-storm related claims such as fire, theft, water damage, etc. The issue facing all home insurance companies is how to remain profitable without raising rates astronomically. One method carriers are examining is roof depreciation schedules.

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Home Insurance Claims and How They are Paid

A client called me Monday morning after receiving the estimate to replace his roof from the March hail storm which struck north Texas. Before calling, he’d emailed me a copy of the claim estimate to help guide our conversation. He had a couple of questions about the estimate and payment structure, however, his biggest concern centered on one issue. If his home insurance policy is a replacement cost policy, why does the repair estimate refer to the depreciated value of his roof.

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Home Insurance and Tightening Restrictions on Older Roofs

MSN posted an interesting article earlier this year noting changes home insurance companies are making. These changes tend to affect older homes in general, and homes with older roofs specifically. These changes are popping up across the US impacting home owners in the Gulf coast states, Midwest, as well as California and Colorado.

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What Additional Insureds are and Why They Matter

I’ve been working with two general contractors this week. One is a custom home builder and remodeler in Dallas, and the other is a roofing company in Frisco. Both are getting general liability policies with a blanket coverage option for additional insured’s, and both wanted to understand what an additional insured is and why it matters to them.

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