Understanding Tornado Damage

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As most homeowners can attest to, the family home is the single most valuable possession and typically the largest investment. When that home is damage by a tornado and resulting hail damage recovering the maximum amount of money needed to repair or replace the damaged property or business will certainly be the biggest challenge one could ever undertake. Understanding the insurance claim process or working with someone who does can make the difference of recovering what you should under your policy.

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Corbitt Public Adjusting, LLC understands how insurance companies evaluate claims, we will make sure your claim estimates are backed by fact, you recover what is rightfully due under your policy, and minimize the haggling and stress your insurance company can impose on you when filing a tornado damage insurance claim.

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Here are a few key tips to make sure your tornado damage does not turn into an insurance claim nightmare.

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1. Make sure your insurance company pays you first, not a roofing company or contractor. Never sign over your insurance payment to a 3rd party contractor.

2. Ask for an “advance payment” from the insurance company so you can at least start to make temporary repairs.

3. Understand the "damage repair estimate" that the insurance company adjuster provides you. If they have not provided one, ask for it right away!

4. Understand their depreciation calculations. Most insurance companies pay on an “Actual Cash Value” basis (Replacement cost minus depreciation) and will depreciate buildings 50%-70%, drastically reducing the final payment. This is open to negotiation and newer buildings should not be depreciated that much.
 
5. In disaster situations, the demand for building/roofing materials naturally increases. The estimated cost of repairs accounted for in the insurance companies "estimate" will most likely be lower as the demand/price of building materials increases.  Make sure you are paid the full amount on the front end so you do not have to go back to ask the adjuster for more. The estimated wait time to have an adjuster re-inspect your home/business is over 2-3 weeks and you may not have the same adjuster as he/she will most likely go back home to the respective state they flew in from.

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