DENVER — We know you have a lot of questions about the weekend tornadoes on Colorado’s eastern plains, so we’re getting answers for you by talking with Carol Walker from the Rocky Mountain Insurance Association.
Question: So, let’s talk about tornadoes and insurance coverage. Do you need extra coverage for tornado damage?
Answer: No. Your standard homeowner’s insurance policy does cover you for high wind, which includes tornadoes and hail. What’s more important is how much insurance do you have. And then, what are your deductibles on that roof, which is the most vulnerable part of your home in Colorado. You may have a wind/hail deductible that's higher, so know what you'd be paying out of pocket, and then know what your limits are.
So, is it good advice to call your agent and maybe ask about bringing that deductible down, if you can? But that might cost you more up front, right?
Well, we're in severe weather season where we have this daily roller coaster of wild weather. Now is the time to be talking to your insurance professional about how much coverage you have and what your deductibles are. You likely have coverage, but how much do you have and do you need more?
Watch our interview with the Rocky Mountain Insurance Association in the video below.
Are we likely to see premiums go up as a result of this weekend's events or not necessarily?
No. One storm will not directly impact what you pay for insurance. Unfortunately, however, we are in hail alley. We do get high wind damage, so that is something that you pay for through your insurance premiums. But just filing a claim for this one storm, is it going to directly impact what we pay in premiums? No. Those are based on patterns and trends over time. Unfortunately, that is our pattern in Colorado, so you’re already paying more than other states.
We're getting a lot of comments and questions about contractors already showing up, knocking on doors, calling people in those destruction zones. What do people need to know about unscrupulous characters out there, and should they always be in communication with their insurance company to verify roofers and contractors?
Unfortunately, with storm season comes scam season and these storm chasers that see a high-profile event do prey on vulnerable people who have had something bad happen to them. So, they victimize them twice. Best advice is to know who you're dealing with. Don't hit the panic button. Be in touch with your insurance professional. Understand what you have coverage for and have your insurance coordinate with those contractors to come up with a plan.
If a contractor offers to waiver the deductible, that's actually not legal in Colorado. The other big red flag is somebody saying, ‘Hey, I just need to get up on the roof to check it out, but sign here first.’ Now you're in a contract. The reputable roofers don't need to go door to door, especially after a storm, so just make sure that you're working with a reputable contractor. We have a lot of resources, and your insurance company is a resource as well to help you figure that out. So don't panic.
Also important: In Elbert and Adams County, where the brunt of Sunday's tornado damage occurred, contractors must be licensed in the county to repair work. Wendy Holmes with Elbert County told Denver7 she wanted residents to be aware of this, and recommended people check a company's license before hiring them to do work.
