Short answer. Usually yes, once repairs are done. Storms change the life and cost of the very items a reserve study tracks, so an update with a site visit keeps the funding plan honest. It does not have to be a full new study.
Every few years a storm reminds South Carolina boards what their reserve plan is for. Matthew in 2016 and Ian in 2022 both came ashore on this coast, and Helene in 2024 showed that inland communities are not exempt. Once the roofers have gone home, a board has to decide whether the old reserve study still describes the property.
Why the old study goes stale
A reserve study lists each component with three numbers: its useful life, its remaining life and its replacement cost. A storm can change all three at once.
- Items replaced early. A roof that was due in 2031 and was replaced in 2023 now has a full life ahead of it. The study still shows money going toward a 2031 replacement.
- Items damaged but not replaced. Balcony railings that took salt spray and wind may now have five years left instead of twelve.
- New items. Many associations add things after a storm: flood doors, a generator, hurricane shutters, a sturdier dune walkover. If they are not in the inventory, nothing is being saved to replace them.
- Costs. Contractor and material prices along the coast often rise after a storm and stay higher.
Full study or update?
A full study (CAI’s Level I) rebuilds the inventory from scratch. Most associations do not need one after a storm. An update with a site visit (Level II) is usually right: the provider walks the property, confirms what was replaced, and revises lives, costs and the funding plan. If damage was minor and well documented, a desk update may do, but a visit is safer for anything that touched the roof, the structure or the waterfront.
Timing matters. Wait until repairs are finished and invoiced, so the provider is not guessing. If your budget meeting is in the fall, book the update by early summer.
Keep insurance and reserves apart
Insurance pays for sudden damage, less the deductible. Reserves pay for wear over time. After a storm the two get tangled, and it is worth keeping them separate in the board’s records:
- Pay the deductible from the operating fund or a special assessment, as your documents allow, rather than quietly draining reserves.
- If the board does use reserves, minute the decision and plan how to put the money back.
- Give the reserve provider a list of what insurance paid for, so replaced items get new lives in the study.
Coastal wind deductibles are often a percentage of the insured value, which on a large building can run well into six figures. Some boards now ask their provider to show the deductible beside the reserve balance in the report, so owners can see both.
What to send the provider
- The last study and the insurance claim summary.
- Invoices for every storm repair, with dates.
- Photos taken before and after, if anyone has them.
- A list of anything added or removed since the last study.
With that in hand, an update is quicker and cheaper. Our overview of South Carolina reserve studies covers the state rules, typical fees and the coastal areas, and the form below will get you a provider’s name.