Well, it is that time of year. The unpredictable hail storm can cause a great deal of damage with your personal property. Just the other night, parts of the metroplex were pounded by baseball-sized hail. The Insurance Council of Texas shares these tips.
Make temporary repairs, if you can prevent additional damage to your home.
Assess and note the damage to your home. Take photos or video of your home to record the damage and show your insurance adjuster.
Contact your insurance company/agent. The sooner you can contact your insurer, the sooner an insurance adjuster can arrive to begin assessing damage and start the recovery process.
Make note of all communication, dates, phone calls, visits, receipts, repairs and paper work with your insurer and building contractor.
If you disagree with the amount of damage found by your insurance adjuster, you have options. Ask to speak with the adjuster’s supervisor for a second opinion. Work with a reputable building contractor who can compare the cost of labor, materials and overall repair.
Avoid outside solicitors. Work with local building contractors for all repairs when possible.
Get more than one estimate when hiring a building contractor. Get everything in writing including costs, work to be done, time schedules, guarantees, payment schedules and other expectations. Never pay a contractor in full or sign a certificate of completion until the work is finished. Never let a contractor discourage you from contacting your insurance company.
This is good information to know ahead of time when you aren't in crisis mode. For more information go to www.insurancecouncil.org.
Bob Brooks is host of the Prudent Money Radio Show. He writes daily at www.prudentmoney.com. If you have a question for him go to www.askbobbrooks.com. If you want to inquire about his financial advisement services, email him at firstname.lastname@example.org or call 972-386-0384 and ask for Judy.