Insurance Extension Request Due

As August 10th approaches Iowa homeowners affected by the 2020 Derecho may learn that they are at risk of losing their Recoverable Depreciation and their opportunity to file suit against their insurers, which could result in them being left without the money required to have their properties returned back to pre-storm condition.

Due to a complex combination of factors including the sheer volume of work, extensive repair scopes, ongoing material shortages and extended lead times, and demand for skilled labor, contractors are finding it necessary to request additional time to review scopes and complete the necessary repairs. 

The time to act is RIGHT NOW. If you and others don’t take action today your ability to fully repair your home with insurance funds may be at risk!

States like Florida have passed statutes requiring insurers to allow up to three years for policyholders to settle their claims and have the work completed.  While Iowa legislators are aware of the situation and have begun a dialog with insurers, no statutory protections have been passed to date.

Here is the action you need to take to protect yourself and all policyholders across the state.

1. Email your insurance agent and adjuster. You can copy and paste the boldfaced script below and email right away (or call).
2. Contact your state legislators and ask them to require insurers to grant all homeowners a six month extension. You can find their contact information here:

https://www.legis.iowa.gov/legislators/informationOnLegislators/allLegislators

Subject: Claim # {enter your claim number here} Extension Request

Email:

As a policy holder, we are contacting you in regards to the above referenced claim following the August 10, 2020 Derecho event that caused widespread wind damage across the state. 

We formally request to be granted a 180 day extension for completion. Contractors in our area continue to tell us as they are unable to take on more work, that they are booked out until 2022 and/or that they are having difficulties getting the appropriate supplies to repair our property.

When things out of our control like skilled labor shortages, supply chain breakdowns and material shortages impact our ability to have our home repaired it does not seem fair or right that we continue to be held to the August 10th, 2021 deadline.

Although we hope to have our property back to pre-storm condition by the end of 2021, we are being told it may take six months to a year.

We appreciate your understanding and attention to this matter and look forward to your response.

Thank you!

{Insert Your Name Here}