All Forum Posts by: Craig McCarty
Craig McCarty has started 1 posts and replied 3 times.
Hello all! I have been hearing/seeing ads for Steadily and I was curious so I went online to get a quote. Little background, I was an insurance contractor for 15 years and have been a licensed adjuster since 2019. The quote was a barebones with a 2% wind/hail deductible. The house is in hail alley in northeast CO. I have a new cat 4 roof that was installed this past fall for $9500. Steadily valued the home at $415,000 which means my hail deductible is $8300!!! Not worth saving $300/year for minimal coverages across board. I would ask anyone who is getting insurance quotes to actually talk to a broker and have them explain things. I have been on so many claims in Texas/Louisiana recently that folks end up getting a $1200 check for a $15000 roof! Not a comfortable conversation to have with an insured. Buyer beware! This is the same thing State Farm is doing except they have some policies that have up to a 5% wind/hail deductible.
The proceeds from the claim can be sent to the title company and held in escrow until repairs are done after closing and then pay the contractor direct. The ACV payment will typically be sent (depending on state) first. Once repairs are complete the contractor sends final bill and the RCV funds will be released.
Looking for a single ticket.