05/23/2024
READ UP FOLKS!! It's happening all over North Texas... Now seeing Wind/hail deductibles at 3%, up from 2% last year. This will only continue to climb. It's not 3% of the value of the roof, just as a friendly reminder. It's 3% of the entire home's replacement cost value. So this person is paying $2,400 in premiums every single year, and STILL has a $9,450 deductible for their roof after a wind/hail storm! And we all know that in the DFW area, the most likely part of the property to be damaged at some point is THE ROOF from wind and hail! So paying premiums for 10-12 years could equate to the same amount for a full roof replacement on a mid-sized, not steep or two-story home! Might as well buy yourselves a brand new roof every 10-12 years! Holy shiza! They are aiming for the same insane Hurricane deductibles seen along the Gulf Coast, but what's sick about that, is that at least in Hurricanes, nearly the entire home is affected. So you'd pay a $10k deductible on a $150k loss. That's understandable. But to pay year after year and have to pay $9,450 out of pocket on a $27,000-$32,000 roof? Make it make sense!?!?
Keep in mind, premiums are mostly calcuated by amount of risk seen within a zip code. So if your zip code saw storms this year, expect every single household's premiums in that zip code to go up, regardless if they filed a claim or not.
Either deductibles will reach 5% in the next 2 years, or they'll exclude roofs altogether from policies. Gut feeling. It's coming. Attrorneys aren't taking claims under $100k, and Public Adjusters are starting to turn away claims under $50k...and the carriers know this!!! They will PLAY....US....ALL.
