Colorado Springs HOA Members Lacking HO-6 Townhouse Insurance Forced To Pay Expensive Hail Damage Deductibles

Members of the local Stetson Hills HOA that lack the upgraded HO-6 Townhome insurance have been ordered to pay a $10,000 deductible from the HOA insurance policy, forcing some members to sell their homes.

Members of the Colorado Springs based Stetson Hills HOA association that lack the HO-6 homeowners insurance policy have been ordered to pay a $10,000 deductible due to a recent hail storm that damaged the roofs of all of the Townhomes, causing thousands upon thousands of dollars worth of damage. Many homeowners thought that they could escape paying the expensive premiums on these monthly policies by skipping the upgraded policy and only insuring on the HO-3 level which covers basic damages, but nothing related to storms. But after this most recent hail storm which damaged houses all throughout this local Townhome community, many members are now facing expensive deductibles as high as $10,000 which is forcing many of them to sell their Townhomes just so they are able to pay off this debt. A lot of the owners of these Townhomes have tenants in there, so these tenants will likely be forced to vacate their homes while the property goes under new ownership, until the new owner decides whether they will occupy the property or possibly be renting it back out to another tenant.

This is why it is so critical for Colorado residents to make sure that they have the extensive storm coverage on their upgraded HO-6 insurance policies (if you own a Townhouse), and the upgraded homeowners insurance with storm coverage if you own a single family home. Hail storms are the norm in Colorado, so it's definitely wise to insure yourself against this relatively common natural occurrence, because it happens quite frequently, and those who aren't insured against these types of physical storm damages will end up paying hefty premiums and deductibles just like in this unfortunate case here that we have used as an example.

For homeowners facing foreclosure if they don't pay their claims within a certain time frame, there is a company which can help you figure out how to sell your hail damaged house for cash without paying any of the premiums and without making the repairs or listing it with an agent. You can read more about how to sell hail damaged houses here: For homeowners who have been lucky enough to escape these expensive hail damage premiums and deductibles, but still haven't upgraded their coverage yet, it's critical that you heed this warning and upgrade your coverage while there's still time, or you could be the next one to face these expensive costs that most people don't even think about or prepare for until it's too late and the damage has been done. Preparation and prevention is the cure for most problems in life, and when it comes to expensive hail damage insurance claims in Colorado, things are no different!

Contact Info:
Name: Brian Rudderow
Email: Send Email
Organization: HBR Colorado
Address: 3094 1/2 Colorado Ave. Colorado Springs CO 80904
Phone: 7192860053

Release ID: 159601