Client Interview: Michael Scauzzo of Veni Vidi Vici, LLC
Michael Scauzzo, managing member of Veni Vidi Vici, LLC was kind enough to recently offer feedback on his organization's experience working with HailSolve.
1. How did HailSolve increase your awareness and knowledge of latent hail damage? Was this something you were familiar with before working with them?
"Being from the midwest, I was very aware of hail damage but did not realize the risk and prevalence of latent hail damage (damage that hasn’t been identified or has happened far in the past) nor the financial opportunities it presents."
2. Were you initially skeptical of HailSolve’s offering? What was your opinion after working with the company?
"HailSolve immediately came off as a very professional and knowledgeable organization so I really was not skeptical. Before working with HailSolve I didn’t realize that latent hail damage could be considered for an insurance claim, especially damage that had happened over several years ago and was not catastrophic in nature. In the past I had filed a claim for hail damage on one of our properties. The process was cumbersome, exhausting, and I only received a fraction of what it cost to repair the building. I have never worked with a company like HailSolve. They have a team of experts from a variety of fields that manage case and get results. After working with them I would recommend them to any investor."
"Our final settlement was $846,805 which was applied to a new roof on our shopping center. This settlement helped to increase cash flow, the overall value of the property, and improve my flexibility as an investor."
3. Did you have any insurance-related concerns? How did HailSolve resolve any insurance-related concerns that you had? Did these concerns come to fruition?
"No, not really. I knew the claims were valid and for situations like this is why an investor has insurance. I also knew that the settlement amount would far outweigh any minor premium increases. After receiving an almost $1 million dollar settlement I knew I had made the right decision."
4. During the restoration process, how easy was it to work with HailSolve? What was the experience of them communicating with your team, tenants, carriers, and other parties?
"HailSolve went above and beyond with their level of communication from start to finish. Their team worked with me to understand my goals for the damaged asset and designed a step by step restoration plan. I received frequent updates on what to expect next in the process. They also communicated with tenants on my behalf. During the claims period their Risk Management team scheduled meetings with the carrier, third parties, and provided an incredible level of detail, which resulted in the carrier issuing a settlement."
5. How much work was required of you and your team?
"HailSolve handled everything. They are truly a turnkey solution. Other than providing some initial documents and general communication, they managed the entire project, which allowed me to focus on other priorities."
6. Summarize your level of satisfaction with HailSolve after the work was completed (settlement amount, restoration of building etc.). How did their services benefit your organization and portfolio?
"To say I am incredibly satisfied with HailSolve would be an understatement. Their team was able to pinpoint the hail storm that damaged the asset, confirm the validity of the damage and work with our carrier throughout the entire process. In addition, HailSolve was able to successfully resolve several objections and denials from my carrier. Without their expertise I would not have been able to manage and overcome these types of challenges. Our final settlement was $846,805, which was applied to a new roof on our shopping center. This settlement helped to increase cash flow, the overall value of the property, and improve my flexibility as an investor. The finished roof, was completed on time by HailSolve’s Construction Management Team and is a high quality TPO covering, backed with a 15 year manufacturer’s warranty. It looks great. Another benefit of using HailSolve is they managed the entire process from start to finish, while also keeping me involved when necessary and updated on a regular basis. Another valuable aspect of HailSolve is that they are looking to create long term relationships with clients. Even though the work is complete, they have enrolled my entire portfolio into a monitoring program that will allow us to immediately address future hail events that have potentially impacted our assets."
7. What would you say to other investors considering working with HailSolve?
" As a real estate investor I’m always looking for ways to minimize risk and maximize value in my portfolio. After working with HailSolve I can’t think of a reason why an investor wouldn’t work with them. At the very least an investor should have HailSolve review their portfolio for damage. Their solutions presented me with opportunities I didn’t even realize were available. At the end of the day my tenants were happier, my portfolio was more valuable, and I was able to gain significant increases in cash flow that would have otherwise been allocated for repairs."