- The spotlight on today's show is insurance and roofing. What you don't know about insurance coverage on your Southeast Texas roof could come back to haunt you. Listen now for the information you need to know.
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Episode Transcript
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Speaker 1 (00:01):
Well, hello Southeast Texas. I'm so glad to have you
joining the show today. We have a lineup of guests
that are amazing. You're not going to want to miss
this show. A couple of things we're going to talk about.
Have you ever wondered how do you buy before you sell?
That's such a daunting task sometime to think about selling
(00:21):
your house and then buying another one. There are options
out there where you can go ahead and purchase your house,
use the equity in your current home and wait to
sell it, or maybe you're thinking about a second home.
Today we have Melvana Krueger with First Financial Bank and
she's going to be talking about a couple of different
options you may have for that. Also with us is
(00:44):
April Tolbert of April Tolbert Insurance, and we are going
to be talking about you guessed it. Hurricane season is here.
It's upon us. We have lots of conversations going on
in our weather people about things that are out there.
Are we seeing things? All the news is focusing on
what's going on in the golf, So we're going to
(01:05):
talk about how can you prepare, but also what happens
if something hits Southeast Texas and so if something does
hit Southeast Texas, you just may need a roofer. And
so David Vis with Golden Triangle Roofing Specialist is here
and he's going to talk about what you can do
to secure that roof and then just give you some
(01:26):
tips on what you need to know as you begin
to get bids for roofs. Not all roofs are created equally,
so we need to know the difference, and we need
to be able to spot what is it that makes
the difference in some of the pricing. It's going to
be important for you to realize that. I remember two
thousand and five we had Hurricane Rita happen, and let
(01:47):
me tell you those roofs are coming up right now,
David as needing to be replaced. It's a challenge right now.
And when ten years after that, twenty fifteen, when people
were trying to sell their houses and they go to
sell and we can't find a WPIA certificate on it.
Nothing's registered with the Windstorm Association, and they're struggling to
(02:11):
get insurance. That's because in two thousand and five, when
that hurricane hit, Hurricane read A hit, everyone came out
of the woodwork thinking that they're a roofer, and so
we're going to talk about the fact that you want
to make sure if something were to happen that you're
using a roofer that is going to make sure that
they follow the guidelines of the Texas Windstorm Insurance Agency,
(02:36):
because that is going to impact you long term, not
only with your insurance costs, but also in the potential
when you need to resell.
Speaker 2 (02:45):
So let's go.
Speaker 1 (02:45):
Ahead and get started in Malvana. You and I were
going to visit a little bit about what are some
of the things that a client can do a customer
who wants to, Hey, I want to buy before I
sell my house, what are some of the products that
First Financial Bank has available to allow them to do that.
Speaker 3 (03:05):
Yeah, definitely. It's kind of always a little puzzle trying
to figure out what people want to do, especially if
they already own a home. You know, it's easy if
somebody is renting, there's really not a lot to think
about move into the new house in the lease. But
when you have a home you already own, there's really
a few things you can do. Some people want to
(03:26):
keep it, turn it into a rent home or second home.
You can always I know, you're very educated on that
do a contingency type of purchase contract, which sometimes maybe
those aren't the most attractive for people who are looking
to sell their home. And then we offer a great product.
(03:49):
It's called a bridge loan. The very specific thing about it,
it allows you to access equity in your current home
to purchase the new home. So people have you know,
at least twenty percent down tied in equity, if not more,
especially right now when people bought maybe on the lower end,
(04:11):
their homes worth a lot more after COVID, and then
they're looking to purchase a new home without you know,
a very low down payment. It gives you the ability
to purchase the new home at one hundred percent financing.
It gives you eleven months to sell your prior home,
(04:32):
and when that prior home sells, you can choose, you know,
if you have enough proceeds to pay off the bridge loan,
or at that time you can pay off a portion
of it. You can get a mortgage, you know, especially
since rates are a bit higher now, maybe you had
two percent, you're going into something in the sixes. It
allows you to get a payment that works for your budget.
Speaker 1 (04:53):
Yeah, and we recently had a situation where you and
I worked through this exact scenario. We had to have
a customer, a friend here in town whose parents were
wanting to have a second home here in Texas to
be near them. Actually their gates touched, this house came up,
(05:14):
and he was like, perfect home, Mom and dad could
have this one right behind us. And so the couple
that was going to purchase it in their seventies and
eighties and they have a house in New Jersey and
so talk a little bit about what they did to
allow them to go ahead and purchase the house here
(05:34):
in Texas.
Speaker 3 (05:35):
Yeah, definitely. So it was a very somewhat you know,
straightforward easy transaction because we're not having to weigh on
anything with the prior residents. All we have to do
is provide evidence of the payment the taxes and insurance
for the prior residents. If it has a mortgage, we
(05:55):
take that into consideration along with the new payment on
the home they're purchasing. We're able to finance one hundred
percent of the new home's purchase price, so the clients
were able to only ring closing costs to the table
instead of twenty percent plus closing costs. It really helped
(06:17):
with their outgoing cash flow during this time. At this time,
now they have that option to decide when they're going
to put it on the market, if they're going to move,
you know, they don't have to do it in some
very short timeframe. It allows them, especially right now, maybe
(06:37):
homes aren't selling as quickly, to not have to put
off purchasing that new home like they might have if
they were wanting to get the equity in the home.
I know, homes are sitting a little longer on the market,
so it gives you some more flexibility to go forward
and purchase what you want instead of waiting to have
to sell.
Speaker 1 (06:55):
Yeah, and for this couple, it was ideal because the
situation was a perfect scenario where the house was directly
behind their son, and so the whole reason for wanting
to purchase here was that they wanted something to have
connection with their son and their grandchildren, and so waiting
for their house to sell wasn't exactly the best choice
(07:18):
for them because they wanted to get this. And then
it took three weeks. I mean, it was done very quickly,
and we were able to close on that really quickly,
which was a great offer for the seller. They were
thrilled with it. It made them want to work with
us in order to be able to get that home
to close quickly for them. Now, in the midst of that,
(07:41):
there was a roofing issue, and so the roof was
an older roof and so we of course had David
Vise with Golden Triangle Roofing Specialists out there and he
took a look at it. And then there are other
people who did as well. And we're going to talk
about in the next segment when we come back about
(08:01):
the differences that sometimes there might be a difference in
the cost of the roof, but you've got to look
closely at what the other person is bidding. So in
our next segment, don't go away, you will want to
hear about this. This is the Dana Simmons Show. Welcome back.
(08:22):
This is Dana Simmons and I'm joined today by Melvanna
Krueger with First Financial Bank, also April Tolbert with April
Tolbert Insurance and David Vis with Golden Triangle Roofing Specialists.
And David in our last conversation we were talking about
a transaction that we were working on. Malvanna and I
where the client was doing a bridge loan to buy
(08:45):
a house locally here in Texas, even though they're in
New Jersey. And one of the things that did come
up was one of those reader roofs. It was an
old roof and we are seeing that a lot these days,
and if you don't know what that means, if you've
not been around long enough. In two thousand and five,
we had a Hurricane Rita. It was a wind event
and there were lots of homes in Southeast Texas that
(09:09):
they were able to get new roofs because of the
wind damage to the roof. Now, the challenge at that
point was that roofers came out of the woodwork and
they were everywhere. And one of the things that happened
is because people were backed up some of the qualified
roofers that we have here. Of course you're going to
(09:30):
be a little backed up. Part of the challenge was
a client doesn't know, Hey, in order to get a
windstorm certificate on your roof, which you have to have
these days, there's a certain way you have to put
the roof on. There's a certain type of shingle, and
you have to have an engineer approve it. So what
we're seeing at that time is that people didn't know that,
(09:52):
they weren't educated about that. And so one of the
things I really wanted to be able to do with
you today is to talk through some of those things,
just to help educate our listeners on the fact that
there are major differences and what you get on a
bid whenever you say, come bid, I need to replace
(10:13):
my roof. And so David, let's start talking about what
some of those differences can be.
Speaker 4 (10:19):
Thank you, Dan. Yes, you know, when we have a
wind to vent or any storm come in, you have
the influx of traffic from out outside contractors, and you know,
the coast has different type of specs and qualifications in
order to winstorm certify and a lot of these roofing
companies aren't familiar with it. So therefore, you know, they
(10:43):
don't know they kind of go through the they kind
of go through the motions, which at the end of
the day, whenever an engineer, there's two ways to approach
the windstorm certification. You can either hire outside of the
state or or not. The state will come out and
do the inspections and walk it all the way through
the process. And you know, going through that process. It
(11:06):
starts out by stripping the house all the way down
to its original deck and inspecting every inch with photographs,
you know, showing that everything is correct. If you have
a place the size of your thumbnail by codes, you
have to cut a four by four section out and
then lay it back in. You just can't go over
(11:27):
the top of it because that creates a weak point.
And a weak point is when these events come through
the first place that can get uplift, causing you know,
the tear off effect to take place. So that starts.
Once that starts, what you do next is he'll come out.
He'll look at that, the engineers or the state. Then
if you have valleys laid in there, you'll come in
(11:49):
with a with a self ad. Here is some water barrier,
that's code for this. It's laid in there. It's laminated,
which is a low point, a gathering point for water.
They look at that, make sure that's correct. From there,
you have a specific nail pattern, starting out with a
starter shingle that we all use. There's still companies out
(12:10):
there using talking about you know, quality. People will use
a three tab shingle that was designed to lay flat,
but it wasn't designed to be a starter shingle. They'll
reverse it and they'll start the process. What we call
a starter shingle. It's a two ply application. We do
not use that. There are still companies that do their
(12:31):
specific product that you use that is a starter shingle
that laminates to the edge. We utilize that we show
and taking one step back also is the perimeter metal
now has been changed. It's a two by four application
where the old word two by two that means on
the edge, which you can see the perimeter is two inches.
(12:54):
And then back on to the house is a four
inch metal all one piece edge metal eve metal. You'll
hear term different things, but that has to be applied properly,
and then from there, once that starts, then you lay
your synthetic underlayment. And again synthetic underlayments, you know, they
(13:14):
have codes. You don't see the coating from Texas Windstorm,
but applicable to whatever manufacture. If you're trying to get
a warranty, even the underlayment has to be applied a
certain way and shown that it's applied, and then from
there you'll come across with your you know, with your
thirty year architectural shingle. Very few three tab shingles are
(13:37):
being used. And again when you start talking about a
thirty year shingle, it's you used to hear the term.
There's nothing in Southeast Texas that will get thirty years
that I've seen. Our weathers just too rugged and too harsh,
extreme heats with showers usually causing granular loss. So that
(14:00):
but going back, that shingle is what you want. And
again there's so many different levels to that, and it's
just pending on what the insurance company has done and
what you're wanting for your home. But again, once that's done,
the windstorm engineer, once we apply that, he'll come back
(14:21):
out and he'll take his final pictures and from there
he'll send that into Austin. Austin will process it out
and then you'll get your winstorm certification. Yeah, pretty rapidly
after that, pending on their workload.
Speaker 1 (14:33):
Yeah. So, and that's one thing every time that we
have a buyer look at a house in Jefferson County,
if the seller's disclosure even last night, went to a
home and the seller's disclosure on roof had unknown, so
I went. Anyone can go to the Texas Department of
insurance website. You can google the address and you can
(14:57):
or you can search the address and you can get
the lat time that that roof was inspected. And so
last night, the one I pulled was a two thousand
and nine. It was done in June of two thousand
and nine, and so that roof is sixteen years old.
So one of the questions I have for you, David,
And then I'm gonna also ask this of April, because
(15:18):
I'm getting lots of conversations from clients who are getting
letters from their insurance companies, different insurance companies. So for you,
how long should a thirty year roof really last in
Southeast Texas? Or what are you seeing? Because I hear
it all the time, it's a thirty year roof. I
have never seen a roof even over twenty years that
(15:42):
is in decent shape whenever I'm looking at houses. So
what is the anticipated lifespan of a thirty year roof.
Speaker 4 (15:52):
In Southeast Texas? What we've seen. If you can get
sixteen on average, you've accomplised a lot on what the
frequency of storms that we're seeing the odds. And now
say that you'll have an event come over you before
then it'll make you change it if you will. So
(16:13):
if you get sixteen on an architectural shingle, I think
that you've been served.
Speaker 1 (16:18):
Well okay, well here's my question then for April April
Tobert Insurance April. I have clients who are calling me
because their insurance company is sending them a letter saying
if you do not replace your roof, we are going
to drop your insurance. And most of those are between
(16:42):
fifteen and twenty years old. That because I'm asking them,
hold is your roof and the youngest one has been
fifteen years and the oldest one has been twenty. So
tell me a little bit about what are insurance companies
doing and how are they making those judgment calls.
Speaker 2 (16:59):
Right now, I cannot tell you how much I appreciate
this conversation, because if it hasn't affected you yet, and
you're a homeowner in Southeast Texas, it will affect you
at some point. So we need to start having more
of these conversations and educating ourselves about what is happening.
You don't want to be surprised when you do get
that letter from your insurance company. And this is not
(17:22):
just one or two or three insurance companies. I deal
with two dozen homeowners insurance companies, and they are all
setting some kind of standard. They are a little bit different.
I have one that is over ten years old. Most
of them are around that fifteen year mark, where if
your roof is over fifteen years old, you are either
(17:46):
going to have your policy canceled, which is a little
more rare, but the main thing, the most common thing
that's happening is insurance companies are saying we'll continue your
coverage for you. However, we are putting an endorsement on
your policy that changes your coverage at the time of acclaim.
(18:08):
So if you have a loss, we are not going
to pay you what it would actually cost to replace
that roof. It's called replacement cost coverage. We're removing that
replacement cost coverage from your policy because your roof is
over fifteen years old.
Speaker 1 (18:25):
Let's talk in real numbers to help people understand what
that means. We're just going to use round numbers here. Sure, Okay,
you have a fifteen year roof, you get the letter
from your insurance company that says we're going to change
your coverage in two years, you get a roof event,
(18:46):
I mean a wind event, and your roof needs to
be replaced. The replacement cost for that roof is twenty
five thousand dollars. What does that mean to that homeowner?
On an average?
Speaker 2 (18:59):
If the life expectancy of that roof was fifteen years
or sixteen years average here, as David pointed out, then
the insurance company is going to say that roof was
sixteen years old, it had zero life left in the roof,
so after depreciation, we will pay you zero dollars for that.
Speaker 1 (19:24):
Roof, even if you have full coverage.
Speaker 2 (19:27):
That is correct. There is no such thing as full
coverage insurance because remember you always have a deductible number
one and if you do not have replacement cost coverage.
This applies to roofs. It applies to your dwelling of
your home, your walls, your carpet, your flooring, your cabinets.
(19:52):
It also applies to your personal property, your contents. No
two insurance policies are created equal, just as I know
we'll talk about in a minute how no two roofs
are created equal. Right when you go to replace a roof,
No to insurance policies are created equal. So there are
a lot of fine print. Is I like to call
(20:15):
them that you need to look at that are not
necessarily obvious. When you're getting quotes or you're getting your
renewal policy. You need a trusted insurance agent that will
explain to you what the differences are between policy to
policy because they are all different.
Speaker 1 (20:37):
Yeah, and I think the majority of the people listening,
whomever is listening, they have no idea what you just
talked about about the fact that after a certain amount
of time on time on the roof, most insurance companies
do not have a replacement cost anymore.
Speaker 2 (20:55):
People are going to have an extremely bad experience with
their insurance the next time we have a major wind
event like Hurricane Rita, and we know we live in
Southeast Texas, so it's just a matter of time before
that happens. It's not if, it's when, and when that happens,
(21:17):
people who have not paid attention to their insurance are
going to have an extremely bad experience because these insurance
companies have made changes at your renewal and if you
have not paid attention, you could be in a world
of hurt.
Speaker 1 (21:35):
So when we come back, we're going to talk about
how do you need to prepare, what do you need
to know from your company. What are some questions you
need to ask, So don't go away, We're coming right back.
This is the Dana Semon Show. Welcome back. This is
the Dana Semons Show. And we are talking insurance roofs
and also buying a house without selling one. So right
(21:58):
now we're in the middle of talking about a situation
that I think a lot of people are not aware of.
So April, let's recap a little bit what we just
said about the situation. Although, David, you've had a question
for her in the break that I thought was great.
Speaker 4 (22:17):
Yes, we were talking about, you know, the client being
covered and then all of a sudden, you know they
next year renewal. You know now they have a changed policy.
Speaker 2 (22:29):
That's right, and what is happening is and your question
was a great one, and that was how does the
customer know that they have a change in their policy?
And the answer is, I promise you these big insurance
companies are sending it in your renewaled documents and most
likely in the fine print somewhere. So at the average person,
(22:52):
if you want to sit there and read through your
renewal documents to see if you can translate it, that's great.
What I recoon it men. For the regular normal consumer homeowner,
is you call your insurance company, you have a local
trusted agent. Please please do not call an eight hundred
number and try to ask these questions because they're not
(23:12):
going to be familiar with Southeast Texas. They're not going
to be familiar with what you're asking about. Your local
trusted insurance agent is going to be educated much better
about what's happening, and the questions that you want to
ask are do I have any changes in my policy
at renewal that would affect number one my deductible at
(23:36):
the time of loss. There are deductible changes that are
happening within certain areas as well, So has the company
done any changes to my deductibles in the event of
any type of loss, including hurricane number two? Have there
been any changes to whether my roof or anything else
(23:58):
on my policy would have replace replacement cost coverage at
the time of loss. I'm going to say that again,
do I have replacement cost coverage at the time of loss?
Those two questions are the things I am seeing most
predominantly right now that we need to be asking of
(24:21):
our insurance because insurance companies are changing policies at renewal
and they are putting it in the fine print, so
technically you have been notified that your policy has changed.
So please it's more important than ever to review your
insurance coverage. And David and I we also need to
(24:43):
talk about something we talked about off air, which was
what are there things that we can do as homeowners
to get ahead of this well?
Speaker 1 (24:53):
And so checking ahead is number one. Checking with your
insurance provider before event is critical. And then David, you
were bringing up some other things that they can do
in regards to their roof ahead of time.
Speaker 4 (25:07):
Yes, you know, roof maintenance is you know, one of
the least looked at things, if you will, I mean,
it's just, you know, we don't really do it. Very
few people do it. But here in this zone we're
in three to five years. If we'll just start, you know,
(25:29):
putting that somewhere, logging that down, have somebody come out
and look, you know, because once it's a name storm,
it's too late. I mean, hey, come, come, you know, help,
you know, put the flag up. But no, you know,
it doesn't work like that. And you the edges in
our conditions as the expansion and contraction, heat and cool
(25:51):
with the reins and extreme heat that the edges over
time will start curling and they'll start that's a weak point.
And you know, these routs are designed will stand a lot,
but again you have to maintain them, especially in our area.
So every three to five year call it a quality
roofing company and just have them come out and assess
(26:12):
everything on it and make sure that you have no
exposed edges and uplift and nail pops and so it's
just very very cheap insurance to have that done well.
Speaker 1 (26:25):
And one of the things that I know that you've
discovered on some of my customers is that they may
have had damage from a previous storm that they had
our previous events that they were unaware of and they
were covered still, So talk a little bit about that.
Speaker 4 (26:42):
And that's correct, you know. And I've talked to your
organization a lot of people, and y'all are very good
about it. When you all do a listing, Hey, call
us out. Let's see what's up there. Because what you
can't see with the naked eye from the ground, you
can see if you're on your knees and you're you know,
expecting every inch of this roof to see if there's
(27:03):
any occurrence that has happened via hel via wind and
it's just if we can if we can find enough damage,
you know, they we can, we can start the claim process.
We we'll go through it. We'll walk with you hand
in hand, we'll build a report, we'll we'll meet the
(27:23):
adjusters out there.
Speaker 1 (27:25):
And Paul's there for one second, because that's huge. So
I had a client who had a roof that had
had damage. He had filed a claim prior to listing
the house with me. The adjuster denied his claim. So
when I listed the house, we had you go out
(27:47):
and take a look at the roof because we knew
that there were some challenges and you said, there is
damage here, and so he reinitiated that claim. And you
actually met the adjuster out there to point out the
locations where there was hail damage to that roof and
(28:12):
that made the difference in his insurance company at that
point then approved him to get a roof. And so
that is a huge point to make that you need
you being there with that adjuster is very helpful.
Speaker 4 (28:27):
And you know, and that's the thing is just they
want the proof. If they have the proof, it's like
we don't see it until you show it. And sometimes
even if it's an inexperienced adjuster, you know, sometimes we'll
call for a reinspect on it if we really feel,
you know, strongly about what we're seeing. A lot of
(28:48):
times to what happens, they'll they'll do a partial. And
when they do a partial, meaning, oh, we're going to
buy this, but you have a you know, eight thousand
dollars a day to buls of where you know, we're
not there's no money to be paid out. What we'll
do is we call it being the checkbook being open.
(29:09):
Once it's open, it's a liability for the insurance company.
They want to close this thing. You know, if we
have the proof there at that point, we can go
ahead and submit more pictures. Write the claim in the
same language that they do, which is called exact tomate,
a universal language program that contractors and insurance companies use
(29:30):
to mesh the numbers and make sure that they're correct
in a medium average. So we'll write that, we'll resubmit that,
and sometimes we don't have to have them come back
and reinspect. Sometimes they'll say, okay, yeah, we see the findings. Yes,
the numbers are correct. Boom, we're approving it. So there's
just a lot of different moving parts to this whole process.
(29:53):
But yes, if you know, if you haven't had your
roof looked at, you need to have it looked at.
And if there is a claim, you know, we can
help you, you know, navigate the process and make it
user friendly. Because the thing is, these insurance companies are
looking at you know, they're looking at minimizing loss. They're
not worried about your roof getting ripped off. They're worried
(30:15):
about once the roof gets ripped off and the water
intrusion comes and there's a two hundred thousand dollars claim inside.
So they're shoring their position, and we would like to
help all the clients out there that need help also
shure their position.
Speaker 1 (30:29):
Yeah. And one of the important things that I also
know that we talked about in the break you in April,
we're visiting about the differences in the shingle. And one
of the things that you talk often about is GAF,
I think is what you call it.
Speaker 4 (30:43):
We are a master Eleak contractor for GAF, which is
the largest manufacturer of roofing materials in North America. You
go through a heavy vetting process. They make sure that
all of your insurance you're in good standings, etc. But
it's a long process that you go through and they're
like two of us in Southeast Texas. But it allows
(31:06):
us to put extended warranties on these that'll cover you.
It'll cover you up to fifty years on if there's
a goal pledge warranty that will actually you can have
a named storm. Even a lot of these companies, if
you have a named storm, all bets are off, it
doesn't apply, but which GAF it does, So it'll cover
(31:29):
you up to fifty years. Material labor haul off, so
craftsmanship up to twenty five years. So it's more expensive,
but it's higher quality and it's just protecting for most
people their largest investments exactly.
Speaker 1 (31:46):
And that's right. And how does that impact insurance?
Speaker 2 (31:49):
April Well, I first want to say Dana that I
put a GAF certified roof on my home in twenty
twenty three after a hailstorm. I'm in Hardin County. We
had baseball size. Hey, my insurance company, which was Farmers,
did pay for a new roof on my house. And
I not only put a GAF certified shingle, but I
(32:09):
did all the additional GAF products so that I could
get that fifty year extended warranty. So, as an insurance
agent who deals with this all the time, I paid
the extra money to put that on my house. Even
though the insurance company, of course had a deductible and
they had other things that came out of that. I
(32:31):
came out of pocket and put that extra quality on
my home. And so I want to point out that
not just for an insurance stand from an insurance standpoint,
because the insurance company is only looking at to answer
your question, is it a new roof. If it's a
new roof, great, we'll start kicking off that fifteen year
(32:52):
life expectancy of that roof. But from a consumer, from
a homeowner standpoint and an insurance agent that works with
people all the time and works with David in his company,
there is a difference in the quality of the product
that you put on your roof, and you I cannot
recommend enough working with David and his team and doing
(33:15):
a quality roof, not just the cheapest roof because it
is it does make a difference at the time of loss.
Speaker 1 (33:24):
And I know sometimes that can be costly okay. So
one of the things that I know, Melvana, that first
financial offers is all kinds of consumer lending that would
allow you to pay to get that roof put on.
So talk a little bit about I come to you,
I need a new roof. What are the options that
you're going to provide me.
Speaker 3 (33:44):
Yeah, that's definitely something we help with. So right now,
we have a lot of folks who have, you know,
to three percent on their mortgage they bought five six
years ago. They have a lot of equity tied up
in that home. That's great, but it's not really benefiting
that on a day to day basis. So they're able
to tap into that equity without ever touching their great
(34:05):
rate if they have one on their first mortgage. The
state of Texas allows them to go up to eighty
percent of their homes of praise value less the current
payoff on their first mortgage, and they can use that
money for maybe supplementing what insurance won't pay, or if
they're in a bind and there's no insurance coverage, they
can use that to repair their roof. Also, if maybe
(34:27):
their equity isn't quite there at that eighty percent mark,
they can use a Texas Home Improvement Loan which allows
them to go up to ninety percent of the homes
of praise value partnering with the contractor to you know,
fix some problems like that.
Speaker 1 (34:41):
Yeah, so you have all kinds of options that if
they need it, they can use that.
Speaker 3 (34:46):
That's correct.
Speaker 1 (34:47):
Well, when we come back, we're gonna wrap up the
show talk a little bit about so what are the
final things you need to do to prepare in this
hurricane season. And also, you know, one of the things
that we talked about in the break April brought up
is so many people today think I can't buy a house,
but there are so many loans that first financial has
(35:07):
going on right now, especially for load to moderate income,
some with zero percent down at a conventional loan. We
want to make sure that if you aren't sure if
you can, that you have the right context just to
start that process. And if they say you can't, the
next step is but here's what you can do so
that you can. And so if you're nervous about that question,
(35:28):
we're going to talk about it in just a bit.
Don't go away. This is the Dana Simmons Show. Welcome back. Well,
this show has gone way too fast, and there's so
much good information, and if you missed some of it,
you can know that KLBI has a podcast. You can
go to the iHeart app and you can search Dana
Simmons real Estate and you can listen to any of
our podcasts over the last several years. But this one
(35:52):
will be up and running in a week or so.
So if you want to listen to this again, get
that information that April gave you. But we're going to
recap that because April I thought it was really good
when you said, before you need to follow claim, you
need to get with your insurance company, your local expert
(36:13):
and ask them two things. State what those two things
were again. Number one, have there been any changes to
my policy that would affect the deductible that I'm responsible
for if I have a claim? And number two, is
there any are there any changes on my policy that
would affect whether I have replacement cost at the time
(36:37):
of loss. So those two questions are critically important because
if we do have something that hits our area and
you do need to follow claim, it could be devastating
for some people if they are not aware of what
this is. As you were stating in a renewal. They
may send that renewal to you. It's listed in all
of the fine print, but how many of us really
(36:57):
go through and read that.
Speaker 2 (36:58):
We don't have a conversation with your insurance agent, your
local trusted insurance agent. And if you are unclear, please
call my office. I have a team of licensed insurance
specialists that will gladly review your policy and talk to you.
Even if your policy is not with our office. We
(37:19):
provide that as a service. Please call us four nine
eight six six one two three three.
Speaker 1 (37:26):
And you now have a couple of locations. Talk about that.
Speaker 2 (37:29):
Beaumont, Kirbyville, and Jasper. So we are now the farmer's
agent in Jasper County. We offer companies outside of Farmers
as well. We've got a couple of dozen insurance companies
that we shop through for you. Farmers is our flagship company.
We love Farmers, but we have dozens of other carriers
that we shop to. So we'd love to be your
local resource for everything insurance in Southeast Texas well.
Speaker 1 (37:53):
I so appreciate you coming on the show, and what
I do love about your heart is that your heart
is to educate and to ensure that people understand because
you're right. We talked about the fact that you know,
anyone can put up a shingle for either real estate insurance,
(38:13):
roofing lending, but it doesn't mean that they're professional in
the organization. So checking those resources and references for anyone
that you are using is critically important, and especially important
on roofs because you said it. You know anyone can
(38:33):
be chucking a truck and doesn't mean that they understand
the way Texas windstorm requires the all of these things
in order to get windstorm insurance. And that's critically important
for number one, when you fall acclaim, but number two
also when you sell your home. It's something that is
going to make a difference. So give everyone your contact
(38:54):
information David and share a little bit about how they
need to what they need to look for in hiring
roofing company.
Speaker 4 (39:01):
Yes, you can reach out to Golden Triangle roofing specialists
on all the social media outlets. Yes, you know, just
make sure that these companies have insurance. It's not mandated
in the state of Texas that companies have insurance. But
what is important is to know that whoever is on
top of your home is you're responsible for and if
(39:25):
they can't provide you with insurance and then dimnify you
on their policy when they are doing your work. Then
you have direct exposure for every person that gets on
top of your home. So just make sure that they
do have insurance so you can protect you and your
loved ones and your investment.
Speaker 1 (39:45):
Yeah, critically important. And the last that we talked about
in our last segment is call to get your roof
looked at. Yes, I mean now is a good time
to do that before we have any storm.
Speaker 4 (39:58):
Yes, that reach out for nine six five, eight, eight
two eight, twenty four to seven. That's a twenty four
hour hotline. We can help you in the event of
an emergency. And we just love to work with you
or help educate you in any form or fashion that
we can.
Speaker 1 (40:16):
Yeah, well, I appreciate you and education.
Speaker 4 (40:19):
Sorry, our inspections are free. Just call us. We'll get
out there and consult with you and inspect your property. Yeah.
Speaker 1 (40:25):
So if someone's charging you for that.
Speaker 4 (40:28):
And you know this day in time, I cannot fall
to a company for doing that. It should be a
minimal fee, should be under two hundred and fifty dollars.
I like to look at it as an investment back
into my client and spending time in educating them in
and hopefully they'll give us the opportunity.
Speaker 1 (40:44):
Yeah, well, I appreciate you. Thank you David and Melvana.
You shared a little bit earlier about the fact that
you guys have bridge loans, but there are lots of
other things that you have to offer, both in consumer
lending and also in mortgages. At First Financial Bank, and
has a question about anything that they may want to
think about on borrowing money, how would they reach out
(41:06):
to you?
Speaker 3 (41:07):
Definitely, so you can reach me anytime at four O
nine three win three forty nine fifty. And we really
do try to look for solutions. We're here to educate.
If now's not the time, say you're looking in the
market to buy a home, you've heard maybe you can't,
Well maybe you can, but if you can't, we'll talk
to you about how to get there.
Speaker 1 (41:26):
Yeah. And you guys have locations all over Southeast Texas.
Speaker 3 (41:29):
We sure do. We I am in the Lumberton branch,
We have Beaumont, we have Orange, Newton, vider Maurice Phille.
There's somebody going to be able to off you and
yes and Mid County, Yes me And.
Speaker 1 (41:42):
So if you're in an area you could pop into.
That's one thing that I love about First Financial. You
could just pop in.
Speaker 3 (41:50):
You sure can. You don't have to have appointments. You're
going to meet someone face to face, not be on
a conference call.
Speaker 1 (41:55):
Yeah, and we talk about local and trusted. That's what
I love about this show is that I get to
highlight local, trusted people who have been here a long
time and who are invested in our area. You know,
I think about April and April. You are invested in
so many things with the Chamber of Commerce, the BBB
(42:18):
Crime Stoppers, I can't even name them all because you're
in so many things, and I think that is a
critical part of if you are working. And I love
one of the things that David is wildly involved in pickleball.
Speaker 4 (42:33):
Yes, Southeast Texas Pickleball Club. We are definitely, We're on
the board there and we're helping support the growth in
Southeast Texas. So it's been great.
Speaker 1 (42:43):
Yeah, and that's what we should be doing, invested in
different areas. And I know you're Malbana so involved in
Lumberton with your kids and all the things that you
do there, as well as other civic organizations so that
is what makes our world go round. While we all
need to do business and we all have to make
(43:04):
a living, it's also critical that we're giving back to
our community in such a way that it's benefiting everyone.
So that's one thing I like to just end with.
If you're not giving back to the community and you
want to find a way to get involved, reach out
to me. I know a bunch of different ways we
can find a place that fits you perfectly.
Speaker 4 (43:26):
Well.
Speaker 1 (43:26):
I've had a great time on the show today. It's
been very educational for me. Things I learned that I
didn't know, and so I hope it was for you
as well. Hope you go out there and make it
a great day. This is the Dana Simmons Show.
Well, hello Southeast Texas. I'm so glad to have you
joining the show today. We have a lineup of guests
that are amazing. You're not going to want to miss
this show. A couple of things we're going to talk about.
Have you ever wondered how do you buy before you sell?
That's such a daunting task sometime to think about selling
(00:21):
your house and then buying another one. There are options
out there where you can go ahead and purchase your house,
use the equity in your current home and wait to
sell it, or maybe you're thinking about a second home.
Today we have Melvana Krueger with First Financial Bank and
she's going to be talking about a couple of different
options you may have for that. Also with us is
(00:44):
April Tolbert of April Tolbert Insurance, and we are going
to be talking about you guessed it. Hurricane season is here.
It's upon us. We have lots of conversations going on
in our weather people about things that are out there.
Are we seeing things? All the news is focusing on
what's going on in the golf, So we're going to
(01:05):
talk about how can you prepare, but also what happens
if something hits Southeast Texas and so if something does
hit Southeast Texas, you just may need a roofer. And
so David Vis with Golden Triangle Roofing Specialist is here
and he's going to talk about what you can do
to secure that roof and then just give you some
(01:26):
tips on what you need to know as you begin
to get bids for roofs. Not all roofs are created equally,
so we need to know the difference, and we need
to be able to spot what is it that makes
the difference in some of the pricing. It's going to
be important for you to realize that. I remember two
thousand and five we had Hurricane Rita happen, and let
(01:47):
me tell you those roofs are coming up right now,
David as needing to be replaced. It's a challenge right now.
And when ten years after that, twenty fifteen, when people
were trying to sell their houses and they go to
sell and we can't find a WPIA certificate on it.
Nothing's registered with the Windstorm Association, and they're struggling to
(02:11):
get insurance. That's because in two thousand and five, when
that hurricane hit, Hurricane read A hit, everyone came out
of the woodwork thinking that they're a roofer, and so
we're going to talk about the fact that you want
to make sure if something were to happen that you're
using a roofer that is going to make sure that
they follow the guidelines of the Texas Windstorm Insurance Agency,
(02:36):
because that is going to impact you long term, not
only with your insurance costs, but also in the potential
when you need to resell.
Speaker 2 (02:45):
So let's go.
Speaker 1 (02:45):
Ahead and get started in Malvana. You and I were
going to visit a little bit about what are some
of the things that a client can do a customer
who wants to, Hey, I want to buy before I
sell my house, what are some of the products that
First Financial Bank has available to allow them to do that.
Speaker 3 (03:05):
Yeah, definitely. It's kind of always a little puzzle trying
to figure out what people want to do, especially if
they already own a home. You know, it's easy if
somebody is renting, there's really not a lot to think
about move into the new house in the lease. But
when you have a home you already own, there's really
a few things you can do. Some people want to
(03:26):
keep it, turn it into a rent home or second home.
You can always I know, you're very educated on that
do a contingency type of purchase contract, which sometimes maybe
those aren't the most attractive for people who are looking
to sell their home. And then we offer a great product.
(03:49):
It's called a bridge loan. The very specific thing about it,
it allows you to access equity in your current home
to purchase the new home. So people have you know,
at least twenty percent down tied in equity, if not more,
especially right now when people bought maybe on the lower end,
(04:11):
their homes worth a lot more after COVID, and then
they're looking to purchase a new home without you know,
a very low down payment. It gives you the ability
to purchase the new home at one hundred percent financing.
It gives you eleven months to sell your prior home,
(04:32):
and when that prior home sells, you can choose, you know,
if you have enough proceeds to pay off the bridge loan,
or at that time you can pay off a portion
of it. You can get a mortgage, you know, especially
since rates are a bit higher now, maybe you had
two percent, you're going into something in the sixes. It
allows you to get a payment that works for your budget.
Speaker 1 (04:53):
Yeah, and we recently had a situation where you and
I worked through this exact scenario. We had to have
a customer, a friend here in town whose parents were
wanting to have a second home here in Texas to
be near them. Actually their gates touched, this house came up,
(05:14):
and he was like, perfect home, Mom and dad could
have this one right behind us. And so the couple
that was going to purchase it in their seventies and
eighties and they have a house in New Jersey and
so talk a little bit about what they did to
allow them to go ahead and purchase the house here
(05:34):
in Texas.
Speaker 3 (05:35):
Yeah, definitely. So it was a very somewhat you know,
straightforward easy transaction because we're not having to weigh on
anything with the prior residents. All we have to do
is provide evidence of the payment the taxes and insurance
for the prior residents. If it has a mortgage, we
(05:55):
take that into consideration along with the new payment on
the home they're purchasing. We're able to finance one hundred
percent of the new home's purchase price, so the clients
were able to only ring closing costs to the table
instead of twenty percent plus closing costs. It really helped
(06:17):
with their outgoing cash flow during this time. At this time,
now they have that option to decide when they're going
to put it on the market, if they're going to move,
you know, they don't have to do it in some
very short timeframe. It allows them, especially right now, maybe
(06:37):
homes aren't selling as quickly, to not have to put
off purchasing that new home like they might have if
they were wanting to get the equity in the home.
I know, homes are sitting a little longer on the market,
so it gives you some more flexibility to go forward
and purchase what you want instead of waiting to have
to sell.
Speaker 1 (06:55):
Yeah, and for this couple, it was ideal because the
situation was a perfect scenario where the house was directly
behind their son, and so the whole reason for wanting
to purchase here was that they wanted something to have
connection with their son and their grandchildren, and so waiting
for their house to sell wasn't exactly the best choice
(07:18):
for them because they wanted to get this. And then
it took three weeks. I mean, it was done very quickly,
and we were able to close on that really quickly,
which was a great offer for the seller. They were
thrilled with it. It made them want to work with
us in order to be able to get that home
to close quickly for them. Now, in the midst of that,
(07:41):
there was a roofing issue, and so the roof was
an older roof and so we of course had David
Vise with Golden Triangle Roofing Specialists out there and he
took a look at it. And then there are other
people who did as well. And we're going to talk
about in the next segment when we come back about
(08:01):
the differences that sometimes there might be a difference in
the cost of the roof, but you've got to look
closely at what the other person is bidding. So in
our next segment, don't go away, you will want to
hear about this. This is the Dana Simmons Show. Welcome back.
(08:22):
This is Dana Simmons and I'm joined today by Melvanna
Krueger with First Financial Bank, also April Tolbert with April
Tolbert Insurance and David Vis with Golden Triangle Roofing Specialists.
And David in our last conversation we were talking about
a transaction that we were working on. Malvanna and I
where the client was doing a bridge loan to buy
(08:45):
a house locally here in Texas, even though they're in
New Jersey. And one of the things that did come
up was one of those reader roofs. It was an
old roof and we are seeing that a lot these days,
and if you don't know what that means, if you've
not been around long enough. In two thousand and five,
we had a Hurricane Rita. It was a wind event
and there were lots of homes in Southeast Texas that
(09:09):
they were able to get new roofs because of the
wind damage to the roof. Now, the challenge at that
point was that roofers came out of the woodwork and
they were everywhere. And one of the things that happened
is because people were backed up some of the qualified
roofers that we have here. Of course you're going to
(09:30):
be a little backed up. Part of the challenge was
a client doesn't know, Hey, in order to get a
windstorm certificate on your roof, which you have to have
these days, there's a certain way you have to put
the roof on. There's a certain type of shingle, and
you have to have an engineer approve it. So what
we're seeing at that time is that people didn't know that,
(09:52):
they weren't educated about that. And so one of the
things I really wanted to be able to do with
you today is to talk through some of those things,
just to help educate our listeners on the fact that
there are major differences and what you get on a
bid whenever you say, come bid, I need to replace
(10:13):
my roof. And so David, let's start talking about what
some of those differences can be.
Speaker 4 (10:19):
Thank you, Dan. Yes, you know, when we have a
wind to vent or any storm come in, you have
the influx of traffic from out outside contractors, and you know,
the coast has different type of specs and qualifications in
order to winstorm certify and a lot of these roofing
companies aren't familiar with it. So therefore, you know, they
(10:43):
don't know they kind of go through the they kind
of go through the motions, which at the end of
the day, whenever an engineer, there's two ways to approach
the windstorm certification. You can either hire outside of the
state or or not. The state will come out and
do the inspections and walk it all the way through
the process. And you know, going through that process. It
(11:06):
starts out by stripping the house all the way down
to its original deck and inspecting every inch with photographs,
you know, showing that everything is correct. If you have
a place the size of your thumbnail by codes, you
have to cut a four by four section out and
then lay it back in. You just can't go over
(11:27):
the top of it because that creates a weak point.
And a weak point is when these events come through
the first place that can get uplift, causing you know,
the tear off effect to take place. So that starts.
Once that starts, what you do next is he'll come out.
He'll look at that, the engineers or the state. Then
if you have valleys laid in there, you'll come in
(11:49):
with a with a self ad. Here is some water barrier,
that's code for this. It's laid in there. It's laminated,
which is a low point, a gathering point for water.
They look at that, make sure that's correct. From there,
you have a specific nail pattern, starting out with a
starter shingle that we all use. There's still companies out
(12:10):
there using talking about you know, quality. People will use
a three tab shingle that was designed to lay flat,
but it wasn't designed to be a starter shingle. They'll
reverse it and they'll start the process. What we call
a starter shingle. It's a two ply application. We do
not use that. There are still companies that do their
(12:31):
specific product that you use that is a starter shingle
that laminates to the edge. We utilize that we show
and taking one step back also is the perimeter metal
now has been changed. It's a two by four application
where the old word two by two that means on
the edge, which you can see the perimeter is two inches.
(12:54):
And then back on to the house is a four
inch metal all one piece edge metal eve metal. You'll
hear term different things, but that has to be applied properly,
and then from there, once that starts, then you lay
your synthetic underlayment. And again synthetic underlayments, you know, they
(13:14):
have codes. You don't see the coating from Texas Windstorm,
but applicable to whatever manufacture. If you're trying to get
a warranty, even the underlayment has to be applied a
certain way and shown that it's applied, and then from
there you'll come across with your you know, with your
thirty year architectural shingle. Very few three tab shingles are
(13:37):
being used. And again when you start talking about a
thirty year shingle, it's you used to hear the term.
There's nothing in Southeast Texas that will get thirty years
that I've seen. Our weathers just too rugged and too harsh,
extreme heats with showers usually causing granular loss. So that
(14:00):
but going back, that shingle is what you want. And
again there's so many different levels to that, and it's
just pending on what the insurance company has done and
what you're wanting for your home. But again, once that's done,
the windstorm engineer, once we apply that, he'll come back
(14:21):
out and he'll take his final pictures and from there
he'll send that into Austin. Austin will process it out
and then you'll get your winstorm certification. Yeah, pretty rapidly
after that, pending on their workload.
Speaker 1 (14:33):
Yeah. So, and that's one thing every time that we
have a buyer look at a house in Jefferson County,
if the seller's disclosure even last night, went to a
home and the seller's disclosure on roof had unknown, so
I went. Anyone can go to the Texas Department of
insurance website. You can google the address and you can
(14:57):
or you can search the address and you can get
the lat time that that roof was inspected. And so
last night, the one I pulled was a two thousand
and nine. It was done in June of two thousand
and nine, and so that roof is sixteen years old.
So one of the questions I have for you, David,
And then I'm gonna also ask this of April, because
(15:18):
I'm getting lots of conversations from clients who are getting
letters from their insurance companies, different insurance companies. So for you,
how long should a thirty year roof really last in
Southeast Texas? Or what are you seeing? Because I hear
it all the time, it's a thirty year roof. I
have never seen a roof even over twenty years that
(15:42):
is in decent shape whenever I'm looking at houses. So
what is the anticipated lifespan of a thirty year roof.
Speaker 4 (15:52):
In Southeast Texas? What we've seen. If you can get
sixteen on average, you've accomplised a lot on what the
frequency of storms that we're seeing the odds. And now
say that you'll have an event come over you before
then it'll make you change it if you will. So
(16:13):
if you get sixteen on an architectural shingle, I think
that you've been served.
Speaker 1 (16:18):
Well okay, well here's my question then for April April
Tobert Insurance April. I have clients who are calling me
because their insurance company is sending them a letter saying
if you do not replace your roof, we are going
to drop your insurance. And most of those are between
(16:42):
fifteen and twenty years old. That because I'm asking them,
hold is your roof and the youngest one has been
fifteen years and the oldest one has been twenty. So
tell me a little bit about what are insurance companies
doing and how are they making those judgment calls.
Speaker 2 (16:59):
Right now, I cannot tell you how much I appreciate
this conversation, because if it hasn't affected you yet, and
you're a homeowner in Southeast Texas, it will affect you
at some point. So we need to start having more
of these conversations and educating ourselves about what is happening.
You don't want to be surprised when you do get
that letter from your insurance company. And this is not
(17:22):
just one or two or three insurance companies. I deal
with two dozen homeowners insurance companies, and they are all
setting some kind of standard. They are a little bit different.
I have one that is over ten years old. Most
of them are around that fifteen year mark, where if
your roof is over fifteen years old, you are either
(17:46):
going to have your policy canceled, which is a little
more rare, but the main thing, the most common thing
that's happening is insurance companies are saying we'll continue your
coverage for you. However, we are putting an endorsement on
your policy that changes your coverage at the time of acclaim.
(18:08):
So if you have a loss, we are not going
to pay you what it would actually cost to replace
that roof. It's called replacement cost coverage. We're removing that
replacement cost coverage from your policy because your roof is
over fifteen years old.
Speaker 1 (18:25):
Let's talk in real numbers to help people understand what
that means. We're just going to use round numbers here. Sure, Okay,
you have a fifteen year roof, you get the letter
from your insurance company that says we're going to change
your coverage in two years, you get a roof event,
(18:46):
I mean a wind event, and your roof needs to
be replaced. The replacement cost for that roof is twenty
five thousand dollars. What does that mean to that homeowner?
On an average?
Speaker 2 (18:59):
If the life expectancy of that roof was fifteen years
or sixteen years average here, as David pointed out, then
the insurance company is going to say that roof was
sixteen years old, it had zero life left in the roof,
so after depreciation, we will pay you zero dollars for that.
Speaker 1 (19:24):
Roof, even if you have full coverage.
Speaker 2 (19:27):
That is correct. There is no such thing as full
coverage insurance because remember you always have a deductible number
one and if you do not have replacement cost coverage.
This applies to roofs. It applies to your dwelling of
your home, your walls, your carpet, your flooring, your cabinets.
(19:52):
It also applies to your personal property, your contents. No
two insurance policies are created equal, just as I know
we'll talk about in a minute how no two roofs
are created equal. Right when you go to replace a roof,
No to insurance policies are created equal. So there are
a lot of fine print. Is I like to call
(20:15):
them that you need to look at that are not
necessarily obvious. When you're getting quotes or you're getting your
renewal policy. You need a trusted insurance agent that will
explain to you what the differences are between policy to
policy because they are all different.
Speaker 1 (20:37):
Yeah, and I think the majority of the people listening,
whomever is listening, they have no idea what you just
talked about about the fact that after a certain amount
of time on time on the roof, most insurance companies
do not have a replacement cost anymore.
Speaker 2 (20:55):
People are going to have an extremely bad experience with
their insurance the next time we have a major wind
event like Hurricane Rita, and we know we live in
Southeast Texas, so it's just a matter of time before
that happens. It's not if, it's when, and when that happens,
(21:17):
people who have not paid attention to their insurance are
going to have an extremely bad experience because these insurance
companies have made changes at your renewal and if you
have not paid attention, you could be in a world
of hurt.
Speaker 1 (21:35):
So when we come back, we're going to talk about
how do you need to prepare, what do you need
to know from your company. What are some questions you
need to ask, So don't go away, We're coming right back.
This is the Dana Semon Show. Welcome back. This is
the Dana Semons Show. And we are talking insurance roofs
and also buying a house without selling one. So right
(21:58):
now we're in the middle of talking about a situation
that I think a lot of people are not aware of.
So April, let's recap a little bit what we just
said about the situation. Although, David, you've had a question
for her in the break that I thought was great.
Speaker 4 (22:17):
Yes, we were talking about, you know, the client being
covered and then all of a sudden, you know they
next year renewal. You know now they have a changed policy.
Speaker 2 (22:29):
That's right, and what is happening is and your question
was a great one, and that was how does the
customer know that they have a change in their policy?
And the answer is, I promise you these big insurance
companies are sending it in your renewaled documents and most
likely in the fine print somewhere. So at the average person,
(22:52):
if you want to sit there and read through your
renewal documents to see if you can translate it, that's great.
What I recoon it men. For the regular normal consumer homeowner,
is you call your insurance company, you have a local
trusted agent. Please please do not call an eight hundred
number and try to ask these questions because they're not
(23:12):
going to be familiar with Southeast Texas. They're not going
to be familiar with what you're asking about. Your local
trusted insurance agent is going to be educated much better
about what's happening, and the questions that you want to
ask are do I have any changes in my policy
at renewal that would affect number one my deductible at
(23:36):
the time of loss. There are deductible changes that are
happening within certain areas as well, So has the company
done any changes to my deductibles in the event of
any type of loss, including hurricane number two? Have there
been any changes to whether my roof or anything else
(23:58):
on my policy would have replace replacement cost coverage at
the time of loss. I'm going to say that again,
do I have replacement cost coverage at the time of loss?
Those two questions are the things I am seeing most
predominantly right now that we need to be asking of
(24:21):
our insurance because insurance companies are changing policies at renewal
and they are putting it in the fine print, so
technically you have been notified that your policy has changed.
So please it's more important than ever to review your
insurance coverage. And David and I we also need to
(24:43):
talk about something we talked about off air, which was
what are there things that we can do as homeowners
to get ahead of this well?
Speaker 1 (24:53):
And so checking ahead is number one. Checking with your
insurance provider before event is critical. And then David, you
were bringing up some other things that they can do
in regards to their roof ahead of time.
Speaker 4 (25:07):
Yes, you know, roof maintenance is you know, one of
the least looked at things, if you will, I mean,
it's just, you know, we don't really do it. Very
few people do it. But here in this zone we're
in three to five years. If we'll just start, you know,
(25:29):
putting that somewhere, logging that down, have somebody come out
and look, you know, because once it's a name storm,
it's too late. I mean, hey, come, come, you know, help,
you know, put the flag up. But no, you know,
it doesn't work like that. And you the edges in
our conditions as the expansion and contraction, heat and cool
(25:51):
with the reins and extreme heat that the edges over
time will start curling and they'll start that's a weak point.
And you know, these routs are designed will stand a lot,
but again you have to maintain them, especially in our area.
So every three to five year call it a quality
roofing company and just have them come out and assess
(26:12):
everything on it and make sure that you have no
exposed edges and uplift and nail pops and so it's
just very very cheap insurance to have that done well.
Speaker 1 (26:25):
And one of the things that I know that you've
discovered on some of my customers is that they may
have had damage from a previous storm that they had
our previous events that they were unaware of and they
were covered still, So talk a little bit about that.
Speaker 4 (26:42):
And that's correct, you know. And I've talked to your
organization a lot of people, and y'all are very good
about it. When you all do a listing, Hey, call
us out. Let's see what's up there. Because what you
can't see with the naked eye from the ground, you
can see if you're on your knees and you're you know,
expecting every inch of this roof to see if there's
(27:03):
any occurrence that has happened via hel via wind and
it's just if we can if we can find enough damage,
you know, they we can, we can start the claim process.
We we'll go through it. We'll walk with you hand
in hand, we'll build a report, we'll we'll meet the
(27:23):
adjusters out there.
Speaker 1 (27:25):
And Paul's there for one second, because that's huge. So
I had a client who had a roof that had
had damage. He had filed a claim prior to listing
the house with me. The adjuster denied his claim. So
when I listed the house, we had you go out
(27:47):
and take a look at the roof because we knew
that there were some challenges and you said, there is
damage here, and so he reinitiated that claim. And you
actually met the adjuster out there to point out the
locations where there was hail damage to that roof and
(28:12):
that made the difference in his insurance company at that
point then approved him to get a roof. And so
that is a huge point to make that you need
you being there with that adjuster is very helpful.
Speaker 4 (28:27):
And you know, and that's the thing is just they
want the proof. If they have the proof, it's like
we don't see it until you show it. And sometimes
even if it's an inexperienced adjuster, you know, sometimes we'll
call for a reinspect on it if we really feel,
you know, strongly about what we're seeing. A lot of
(28:48):
times to what happens, they'll they'll do a partial. And
when they do a partial, meaning, oh, we're going to
buy this, but you have a you know, eight thousand
dollars a day to buls of where you know, we're
not there's no money to be paid out. What we'll
do is we call it being the checkbook being open.
(29:09):
Once it's open, it's a liability for the insurance company.
They want to close this thing. You know, if we
have the proof there at that point, we can go
ahead and submit more pictures. Write the claim in the
same language that they do, which is called exact tomate,
a universal language program that contractors and insurance companies use
(29:30):
to mesh the numbers and make sure that they're correct
in a medium average. So we'll write that, we'll resubmit that,
and sometimes we don't have to have them come back
and reinspect. Sometimes they'll say, okay, yeah, we see the findings. Yes,
the numbers are correct. Boom, we're approving it. So there's
just a lot of different moving parts to this whole process.
(29:53):
But yes, if you know, if you haven't had your
roof looked at, you need to have it looked at.
And if there is a claim, you know, we can
help you, you know, navigate the process and make it
user friendly. Because the thing is, these insurance companies are
looking at you know, they're looking at minimizing loss. They're
not worried about your roof getting ripped off. They're worried
(30:15):
about once the roof gets ripped off and the water
intrusion comes and there's a two hundred thousand dollars claim inside.
So they're shoring their position, and we would like to
help all the clients out there that need help also
shure their position.
Speaker 1 (30:29):
Yeah. And one of the important things that I also
know that we talked about in the break you in April,
we're visiting about the differences in the shingle. And one
of the things that you talk often about is GAF,
I think is what you call it.
Speaker 4 (30:43):
We are a master Eleak contractor for GAF, which is
the largest manufacturer of roofing materials in North America. You
go through a heavy vetting process. They make sure that
all of your insurance you're in good standings, etc. But
it's a long process that you go through and they're
like two of us in Southeast Texas. But it allows
(31:06):
us to put extended warranties on these that'll cover you.
It'll cover you up to fifty years on if there's
a goal pledge warranty that will actually you can have
a named storm. Even a lot of these companies, if
you have a named storm, all bets are off, it
doesn't apply, but which GAF it does, So it'll cover
(31:29):
you up to fifty years. Material labor haul off, so
craftsmanship up to twenty five years. So it's more expensive,
but it's higher quality and it's just protecting for most
people their largest investments exactly.
Speaker 1 (31:46):
And that's right. And how does that impact insurance?
Speaker 2 (31:49):
April Well, I first want to say Dana that I
put a GAF certified roof on my home in twenty
twenty three after a hailstorm. I'm in Hardin County. We
had baseball size. Hey, my insurance company, which was Farmers,
did pay for a new roof on my house. And
I not only put a GAF certified shingle, but I
(32:09):
did all the additional GAF products so that I could
get that fifty year extended warranty. So, as an insurance
agent who deals with this all the time, I paid
the extra money to put that on my house. Even
though the insurance company, of course had a deductible and
they had other things that came out of that. I
(32:31):
came out of pocket and put that extra quality on
my home. And so I want to point out that
not just for an insurance stand from an insurance standpoint,
because the insurance company is only looking at to answer
your question, is it a new roof. If it's a
new roof, great, we'll start kicking off that fifteen year
(32:52):
life expectancy of that roof. But from a consumer, from
a homeowner standpoint and an insurance agent that works with
people all the time and works with David in his company,
there is a difference in the quality of the product
that you put on your roof, and you I cannot
recommend enough working with David and his team and doing
(33:15):
a quality roof, not just the cheapest roof because it
is it does make a difference at the time of loss.
Speaker 1 (33:24):
And I know sometimes that can be costly okay. So
one of the things that I know, Melvana, that first
financial offers is all kinds of consumer lending that would
allow you to pay to get that roof put on.
So talk a little bit about I come to you,
I need a new roof. What are the options that
you're going to provide me.
Speaker 3 (33:44):
Yeah, that's definitely something we help with. So right now,
we have a lot of folks who have, you know,
to three percent on their mortgage they bought five six
years ago. They have a lot of equity tied up
in that home. That's great, but it's not really benefiting
that on a day to day basis. So they're able
to tap into that equity without ever touching their great
(34:05):
rate if they have one on their first mortgage. The
state of Texas allows them to go up to eighty
percent of their homes of praise value less the current
payoff on their first mortgage, and they can use that
money for maybe supplementing what insurance won't pay, or if
they're in a bind and there's no insurance coverage, they
can use that to repair their roof. Also, if maybe
(34:27):
their equity isn't quite there at that eighty percent mark,
they can use a Texas Home Improvement Loan which allows
them to go up to ninety percent of the homes
of praise value partnering with the contractor to you know,
fix some problems like that.
Speaker 1 (34:41):
Yeah, so you have all kinds of options that if
they need it, they can use that.
Speaker 3 (34:46):
That's correct.
Speaker 1 (34:47):
Well, when we come back, we're gonna wrap up the
show talk a little bit about so what are the
final things you need to do to prepare in this
hurricane season. And also, you know, one of the things
that we talked about in the break April brought up
is so many people today think I can't buy a house,
but there are so many loans that first financial has
(35:07):
going on right now, especially for load to moderate income,
some with zero percent down at a conventional loan. We
want to make sure that if you aren't sure if
you can, that you have the right context just to
start that process. And if they say you can't, the
next step is but here's what you can do so
that you can. And so if you're nervous about that question,
(35:28):
we're going to talk about it in just a bit.
Don't go away. This is the Dana Simmons Show. Welcome back. Well,
this show has gone way too fast, and there's so
much good information, and if you missed some of it,
you can know that KLBI has a podcast. You can
go to the iHeart app and you can search Dana
Simmons real Estate and you can listen to any of
our podcasts over the last several years. But this one
(35:52):
will be up and running in a week or so.
So if you want to listen to this again, get
that information that April gave you. But we're going to
recap that because April I thought it was really good
when you said, before you need to follow claim, you
need to get with your insurance company, your local expert
(36:13):
and ask them two things. State what those two things
were again. Number one, have there been any changes to
my policy that would affect the deductible that I'm responsible
for if I have a claim? And number two, is
there any are there any changes on my policy that
would affect whether I have replacement cost at the time
(36:37):
of loss. So those two questions are critically important because
if we do have something that hits our area and
you do need to follow claim, it could be devastating
for some people if they are not aware of what
this is. As you were stating in a renewal. They
may send that renewal to you. It's listed in all
of the fine print, but how many of us really
(36:57):
go through and read that.
Speaker 2 (36:58):
We don't have a conversation with your insurance agent, your
local trusted insurance agent. And if you are unclear, please
call my office. I have a team of licensed insurance
specialists that will gladly review your policy and talk to you.
Even if your policy is not with our office. We
(37:19):
provide that as a service. Please call us four nine
eight six six one two three three.
Speaker 1 (37:26):
And you now have a couple of locations. Talk about that.
Speaker 2 (37:29):
Beaumont, Kirbyville, and Jasper. So we are now the farmer's
agent in Jasper County. We offer companies outside of Farmers
as well. We've got a couple of dozen insurance companies
that we shop through for you. Farmers is our flagship company.
We love Farmers, but we have dozens of other carriers
that we shop to. So we'd love to be your
local resource for everything insurance in Southeast Texas well.
Speaker 1 (37:53):
I so appreciate you coming on the show, and what
I do love about your heart is that your heart
is to educate and to ensure that people understand because
you're right. We talked about the fact that you know,
anyone can put up a shingle for either real estate insurance,
(38:13):
roofing lending, but it doesn't mean that they're professional in
the organization. So checking those resources and references for anyone
that you are using is critically important, and especially important
on roofs because you said it. You know anyone can
(38:33):
be chucking a truck and doesn't mean that they understand
the way Texas windstorm requires the all of these things
in order to get windstorm insurance. And that's critically important
for number one, when you fall acclaim, but number two
also when you sell your home. It's something that is
going to make a difference. So give everyone your contact
(38:54):
information David and share a little bit about how they
need to what they need to look for in hiring
roofing company.
Speaker 4 (39:01):
Yes, you can reach out to Golden Triangle roofing specialists
on all the social media outlets. Yes, you know, just
make sure that these companies have insurance. It's not mandated
in the state of Texas that companies have insurance. But
what is important is to know that whoever is on
top of your home is you're responsible for and if
(39:25):
they can't provide you with insurance and then dimnify you
on their policy when they are doing your work. Then
you have direct exposure for every person that gets on
top of your home. So just make sure that they
do have insurance so you can protect you and your
loved ones and your investment.
Speaker 1 (39:45):
Yeah, critically important. And the last that we talked about
in our last segment is call to get your roof
looked at. Yes, I mean now is a good time
to do that before we have any storm.
Speaker 4 (39:58):
Yes, that reach out for nine six five, eight, eight
two eight, twenty four to seven. That's a twenty four
hour hotline. We can help you in the event of
an emergency. And we just love to work with you
or help educate you in any form or fashion that
we can.
Speaker 1 (40:16):
Yeah, well, I appreciate you and education.
Speaker 4 (40:19):
Sorry, our inspections are free. Just call us. We'll get
out there and consult with you and inspect your property. Yeah.
Speaker 1 (40:25):
So if someone's charging you for that.
Speaker 4 (40:28):
And you know this day in time, I cannot fall
to a company for doing that. It should be a
minimal fee, should be under two hundred and fifty dollars.
I like to look at it as an investment back
into my client and spending time in educating them in
and hopefully they'll give us the opportunity.
Speaker 1 (40:44):
Yeah, well, I appreciate you. Thank you David and Melvana.
You shared a little bit earlier about the fact that
you guys have bridge loans, but there are lots of
other things that you have to offer, both in consumer
lending and also in mortgages. At First Financial Bank, and
has a question about anything that they may want to
think about on borrowing money, how would they reach out
(41:06):
to you?
Speaker 3 (41:07):
Definitely, so you can reach me anytime at four O
nine three win three forty nine fifty. And we really
do try to look for solutions. We're here to educate.
If now's not the time, say you're looking in the
market to buy a home, you've heard maybe you can't,
Well maybe you can, but if you can't, we'll talk
to you about how to get there.
Speaker 1 (41:26):
Yeah. And you guys have locations all over Southeast Texas.
Speaker 3 (41:29):
We sure do. We I am in the Lumberton branch,
We have Beaumont, we have Orange, Newton, vider Maurice Phille.
There's somebody going to be able to off you and
yes and Mid County, Yes me And.
Speaker 1 (41:42):
So if you're in an area you could pop into.
That's one thing that I love about First Financial. You
could just pop in.
Speaker 3 (41:50):
You sure can. You don't have to have appointments. You're
going to meet someone face to face, not be on
a conference call.
Speaker 1 (41:55):
Yeah, and we talk about local and trusted. That's what
I love about this show is that I get to
highlight local, trusted people who have been here a long
time and who are invested in our area. You know,
I think about April and April. You are invested in
so many things with the Chamber of Commerce, the BBB
(42:18):
Crime Stoppers, I can't even name them all because you're
in so many things, and I think that is a
critical part of if you are working. And I love
one of the things that David is wildly involved in pickleball.
Speaker 4 (42:33):
Yes, Southeast Texas Pickleball Club. We are definitely, We're on
the board there and we're helping support the growth in
Southeast Texas. So it's been great.
Speaker 1 (42:43):
Yeah, and that's what we should be doing, invested in
different areas. And I know you're Malbana so involved in
Lumberton with your kids and all the things that you
do there, as well as other civic organizations so that
is what makes our world go round. While we all
need to do business and we all have to make
(43:04):
a living, it's also critical that we're giving back to
our community in such a way that it's benefiting everyone.
So that's one thing I like to just end with.
If you're not giving back to the community and you
want to find a way to get involved, reach out
to me. I know a bunch of different ways we
can find a place that fits you perfectly.
Speaker 4 (43:26):
Well.
Speaker 1 (43:26):
I've had a great time on the show today. It's
been very educational for me. Things I learned that I
didn't know, and so I hope it was for you
as well. Hope you go out there and make it
a great day. This is the Dana Simmons Show.
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