The weather is known to take unpredictable turns in Denver, especially when hailstorms are at their peak. Located in the heart of the infamous Hail Alley, the city is notorious for being at the receiving end of the worst damage due to this phenomenon. These severe thunderstorms disrupt the resident’s lives, leaving destruction for homes and businesses
A federal crime report estimates that the May 2024 hailstorm that struck the Denver metro area caused $2 billion in damages. Apart from the physical damage, this natural phenomenon poses a recurring dilemma for roofing contractors and homeowners. Unfortunately, they must contend with additional financial expenses for reconstruction. Given such a grim scenario, roofing insurance can provide much-needed respite for contractors. Similarly, homeowners can also benefit by keeping their property safe and sound.
What Does Hailstorm Season Mean for Denver?
Of all weather events, hailstorms present a challenge like no other. The statistics are telling, with Denver ranking among the top 5 states for hail damage claims according to the National Insurance Crime Bureau. While hail storms can occur at any time of the year, hail season originates in April and continues till September. During that period, May and June bring a record number of destructive hail storms. These storms are far from your usual storms. They can bring hailstones as big as golf balls, and some are as large as a fully-grown grapefruit. The result is widespread damage to virtually everything that stands in the way, including roofs, windows, and vehicles.
For homeowners, hail damage spells doom. If left unattended, it can raise costs due to water leaks, extensive repairs, and structural damage. Roofing contractors, on the other hand, face a deluge of repair requests that carry potential business opportunities while posing risks. Without adequate insurance, roofing companies face a series of liability claims, property damage, and worker issues. As a result, thi can have long-term implications for their financial stability
Why Roofing Insurance Matters for Homeowners in Denver
Your roof primarily serves as a barrier between you and the ruthless weather outside, but it remains highly vulnerable to the effects of a hailstorm. Ignoring roofing insurance can lead to costly repairs or replacements for homeowners if the roof is severely damaged. Insurance policies cover all expenses that fall in the category of hail damage, but it’s important to keep an eye on your policy to ascertain where you stand. Comprehensive roofing insurance matters for the following reasons.
Financial Protection
Sil damage means paying thousands of dollars out of your pocket for repairs, but the right insurance policy can relieve you from bearing these costs alone.
Peace of Mind
The idea that your roof is covered can be reassuring when hailstorms hit, as it allows you to avoid the financial strain that they may cause.
Timely Repairs
You can’t afford to let roof damage be on its own lest it worsens over time and becomes a huge liability. Insurance helps to ensure that you get repairs done just in time to prevent issues like water damage or mold growth.
Roofing Insurance in Denver: Safeguarding Your Contractor Business
Although roofing contractors are your go-to people to initiate work on storm-damaged roofs, a lack of proper insurance could cause legal trouble. Not to mention, the hefty medical bills and property damage claims that can threaten your very business. For roofing contractors in Denver, the following insurance coverages are of critical importance.
General Liability Insurance
This protects against injury claims and property damage by third parties.
Insurance for Workers’ Compensation
This insurance comes into effect if a worker gets injured on-site.
Commercial Property Insurance
This insurance is meant to protect your business-related properties and possessions from damage or theft.
Commercial Auto Insurance
The premiums are way higher for drivers in hail-prone areas, so insurance can cover vehicles involved in the transport of equipment and materials.
Contractor’s Tools and Equipment Insurance
This insurance covers expenses for any damage that occurs to your tools or equipment.
Having proper insurance will minimize potential financial losses for contractors and help them earn the trust of clients. After all, homeowners are more likely to engage with contractors who have the benefit of insurance and comply with local regulations.
How Hailstorm Season Impacts Insurance Premiums
With hail storms so frequent in Denver, the insurance premiums are likely to take a hit. As per CPR news, hailstorms are the primary cause behind an insurance crisis gripping home insurance owners. It’s common for insurance providers to adjust rates in ways that suit them, which can be a deterrent for homeowners and contractors in areas with a recorded history of hailstorms. Here are some ways to manage the ever-rising insurance premiums in Denver.
- Insurance policies are constantly evolving, so reach out to your provider to review your policy annually
- Homeowners can choose roofing materials that resist environmental damage, while workplace safety programs can protect contracts from unfounded claims.
- If you combine multiple insurance policies with one provider, you are more likely to receive discounts.
Finding the Right Roofing Insurance in Denver
There is apparently no escape from Denver’s increasingly unpredictable hail season, but the right insurance can make all the difference in how you cope with it. Whether you own a home in Denver or run your roofing business there, Riverbend Insurance is here to help. As your trusted legal partners, we will stand by your side when the going gets tough and hail storms strike.
With years of experience dealing with hail-related claims and in-depth knowledge of Denver’s hailstorm season, we are geared to craft the most fitting coverage options for you that effectively meet your needs. While you never know when a hail storm might be on its way, we are driven to protect your assets with robust insurance solutions and help you weather storms with confidence. Contact us today to learn more about coverage options and get the full value for your damages.