Hail damage claims have skyrocketed by 65% over the last six years. For HOAs, quickly addressing the damages from hail is crucial to getting the process started especially when multiple buildings or particularly complex structures are involved. The challenge is that several variables can make it difficult to properly assess the damages and recovery costs.
Below are three things to keep in mind when handling a hailstorm with your property management company.
1. Hire a Professional to Assess the Damage
Gassen can work with you to find a reputable vendor who can assess the hail damage and find the right solution for fixing your property. By hiring a professional, you can rest assured the inspection will be accurate. This will be helpful when you file your claim with the insurance company.
2. Asses the Entire Damage
The roof is the first thing that comes to mind when considering hail damage. But the damage often extends to other parts of your HOA property. Broken windows or skylights are examples of hail storm damage. Damage to siding, paint and other building components may also be noticeable. Take pictures to document the loss. This is important because it gives you the opportunity to verify a loss occurred.
3. Working with Your Insurance Company
The most important thing to remember after a hailstorm is you do not want to give your insurance company an excuse to deny a claim. Make sure your HOA follows the correct procedure for filing a claim. Tips include:
● Don't Procrastinate. After a hailstorm, submitting a claim should be your priority. The sooner you submit a claim, the faster an adjuster can help assess damages.
● Fix the Most Critical Damage Now. After a particularly heavy rain or hail storm, you may notice damage that needs to be repaired immediately. In this case, do not wait for insurance companies to schedule repairs. It's the HOA's responsibility to maintain a safe facility. Therefore, fix anything that requires immediate attention.
● Review your insurance policy. As you wait for the claim process, your property manager can help you review your insurance coverage for public property or an amenity. Make sure you understand what will and won't be covered from the damage.
Gassen Offers Property Management Service in Minneapolis
Gassen can help you manage your HOA. We offer comprehensive reserve studies, local property management, and accounting for all property owners and organizations. We can help you protect your HOA with the right tools.
To schedule an initial consultation, call us at 952-922-5575, or you can message us on our contact page.