Hail season is in full swing in Colorado and one of the most common questions our team gets asked is when a homeowner has storm damage is what options are available to a homeowner or business owner that can’t afford their deductible.
First off a warning: there are always companies that come out in storm areas and offer to waive deductibles, no questions asked. As a homeowner or business owner you need to be wary of these companies. Waiving a deductible in Colorado is illegal per Colorado Senate Bill 38 (SB38) which was put into law in 2012. This law makes it illegal for a licensed roofing contractor to waive a deductible for a customer. Therefore, any contractor willing to waive a deductible is breaking Colorado law which can lead to legal issues for the contractor and in some cases the property owner as well.
What you can do legally to decrease or solve your hail or storm damage deductible problem:
- Set up a payment plan. Rocky Mountain Exteriors offers a no-interest, no credit check payment plan option for up to 12 months. This is one of the easiest ways to eliminate the stress with a large deductible.
- Finance your deductible. If your deductible is too large we offer multiple long term financing options so you can get your roof replaced and find a monthly payment that fits your budget.
- Use ACV proceeds from other trades included in your insurance claim to legally reduce your deductible. It is possible to decrease your deductible by getting less work done. This option usually means that certain trades will not be completed on your project and that if you have a future claim for your property you will get paid out less, but this can provide an option to reduce or eliminate your deductible and still get the most important work done to restore your property from hail damage.
- Take advantage of Rocky Mountain Exteriors deductible credit. Since you are going to have to pay your deductible no matter what, you should at least get something for it. Rocky Mountain Exteriors is different than most roofing companies in that we can do many other trades including painting, siding, window replacement and more. If you choose us as your Hail Damage contractor, we will typically credit up to 50% of your deductible payout toward other trades that are not covered in the insurance claim. This means that if you have a $5,000.00 deductible, we will be willing to put $2,500 of that deductible toward new paint, windows, wood replacement, siding or any other project that you are hoping to complete
Most of our customers will combine multiple options above to find the right solution for them. For example, customers may reduce their deductible through applying ACV proceeds where possible and will split the remaining amount due over a 12 month payment plan.
If you have questions about your insurance or hail claim or need to get an opinion from a trusted local contractor with 14 years of experience dealing with insurance claims, give us a call today at 303-377-2801 or use the following link to schedule an appointment online: Schedule a Free Inspection