Manufacturer Representatives focused in Architectural and Building Owner Product Solutions
Serving Colorado, Wyoming, and Montana
Insurance Vs. Assurance
With the recent hail across the front range of the Rocky Mountains, it has building owners and homeowners scratching their heads on what to do. Colorado ranks second in the nation for hail insurance claims and has a premium average about 18% higher than the national average. The May 2017 hail storm on the western side of the Denver Metro area totaled about $2.3 Billion in damages. This year the storm that hit in June on the North side of the Denver Metro area totaled about 276.4 Million. Most recent the storm that left animals dead at the Cheyenne Mountain Zoo and devastated Ft. Carson just a couple months ago is expected to land in the top 5 hail storms of all time in Colorado. As rates skyrocket the national premium average is expected to rise because of what’s happening here in our own backyard.
Where do we go from here? If you have hail damage you file a claim and insurance pays a prorated amount on what they decide your roof system is worth. A higher premium is inevitable but what happens next year when you go through this again. The headache of dealing with insurance, sifting through the out of state roofers and going through the whole process again year after year. Eventually, the average person will not be able to afford this cycle. Considering a hail resistant system is now an important decision a building or homeowner should consider investing in.
Factory Mutual Global has recently added a “Very Severe Hail” or “VSH” rating to stand up to mother nature. Much of Colorado’s front range falls in the VSH map that FM Global has released. FM Global has about 130 years of testing under their belts and focuses on loss prevention and loss history. FM is the benchmark of hail testing and is by far the most rigorous in the industry. The VSH rating tests not only the roof covering or membrane but also the adhesive and underlayments throughout the system. Only a handful of manufactures can offer systems that meet the VSH rating by FM Global. Contact the roofing professionals at Rocky Mountain Reps if you are interested in protecting your investment against the next hail storm.