Windhail Buyback Quotes Policies and Service for Colorado and Denver Metro Area Homeowners
Our local Colorado independent insurance agency has been helping homeowners obtain affordable insurance for over twenty years. We have the expertise to help with the everchanging homeowners insurance market in this wonderful state we call home.
Insurance in Colorado and especially the Denver metro area has become complicated due to many factors in the past decade or so. One key adjustment insurance companies have made is the wind hail deductible for any homeowner in Colorado. The days of a $1,000 deductible for wind and hail are gone. We are seeing 1-5% of the replacement cost of the home becoming standard. So for example:
- Replacement cost of home: $750,000
- 1% wind hail deductible – $7,500
- 2% wind hail deductible – $15,000
- 5% wind hail deductible – $37,500
Replacing a roof in Colorado as the cost of construction soaring the past few years with a 2 or 5 percent wind hail deductible makes your roof self insured. As a local independent Colorado homeowners broker we have opinions on this that you will agree with. Our stance is meaningless however. We are in a “it is what it is” situation. Thankfully we have a solution that is not perfect but could help alleviate the self insurance situation we are in currently. Wind/hail buyback insurance fills this gap. Please contact us today to discuss this product. Click here if you want us to contact you.
Wind/hail deductible buyback insurance is available in Colorado, typically as a separate, add-on policy to your primary property insurance. This coverage helps reduce the often high percentage-based deductibles common in hail-prone areas, lowering your potential out-of-pocket expenses after a claim.
How Wind/Hail Deductible Buyback Insurance Works
- Separate Policy: Wind/hail deductible buyback (WDBB) is an additional, standalone policy, not part of your main homeowners or commercial property insurance.
- Reduces Deductible: The WDBB policy “buys down” your primary policy’s wind and hail deductible to a lower, more manageable level, often a flat dollar amount (e.g., from 5% of the property value down to $5,000).
- Primary Policy First: The WDBB policy activates only after your primary insurer accepts and adjusts the loss. You must still have an underlying wind/hail coverage in force.
- Commercial & Personal: This type of coverage is offered for both commercial properties and personal residences.
Why Consider It in Colorado and especially the Denver metro area?
Colorado is part of “Hail Alley” and is highly susceptible to severe hailstorms. As a result:
- High Deductibles: Primary insurers often impose high wind/hail deductibles, frequently calculated as a percentage (1% to 5%) of the home’s total insured value, rather than a flat dollar amount.
- Significant Out-of-Pocket Risk: A 2% deductible on a $500,000 home means a $10,000 out-of-pocket expense for the homeowner before the primary insurance pays anything. A WDBB policy mitigates this financial risk.
- Lender Requirements: Some mortgage lenders may require lower deductibles than a primary policy offers, making a buyback policy necessary to meet loan stipulations.
If you would like a supplemental policy for your Colorado home through we can help you obtain $5,000, $10,000, 15,000, or 25,000 of wind/hail coverage with a $0 deductible if you are interested. Each $5,000 of wind/hail coverage is approximately $35/month depending on your zip code.
Thank you for your consideration.
The Orcutt Group Team