insurance

30
Jan

Will Filing an Insurance Claim After a Storm Increase Insurance Rates?

damage storm increase insurance rates

Scared that filing an insurance claim after a storm will increase insurance rates? 

You are not alone!  But fortunately, your insurance company is NOT ALLOWED to increase your insurance rates from damage due to storms (or Acts of God).

“But my friend, neighbor, brother-in-law, co-worker, (FILL IN THE BLANK) once told me that filing an insurance claim will make my rates go up.”

Why do most people assume that filing a home insurance claim will increase their rates?

Because we have been conditioned into assuming that a claim, any claim, will cause rates to go up.

Auto insurance has worked this was for so long, we assume all insurance, including home insurance, will operate the same way.

Home insurance does NOT work this way.  

How is home owner insurance different?

The reason behind your claim is the determining factor in whether or not the insurance company can increase your rates (or drop you).

The reason behind a storm claim is very simple – a storm.

Your insurance rates CANNOT be increased due to claim related to a storm.

The answer is simple.  If you have storm damage, make a claim!

Get the money your are owed, WITHOUT the fear of increasing insurance rates.



Want more information?  Trying to understand the costs associated with replacing a roof?  Call, email, post to Facebook, or tweet to us. 

No Fee, No Obligation, Just help for you.

Don’t want to talk to anyone and just want a quick, satellite photograph measurement to help estimate the cost for your roof?  Order the Quick Report

21
Nov

5 Reasons You MUST Notify Your Insurance Company After A Recent Storm

recent hail storm map texas

Why You Must Notify The Insurance Company After A Recent Wind or Hail Storm?

One of the most frequent questions asked is “Do I need to notify my insurance company?” or similarly, “Do I have to call my insurance company?”

The simple answer is YES.  Call and make an insurance claim.  Not only does it makes sense but you most likely must do it or you breach your insurance contract.

Homeowners often are nervous about making an insurance claim, even after storm damage.  Usually this fear stems from past experiences related to auto insurance.  That being, that rates will increase after a claim.  But property insurance contracts and State insurance laws are different.

Top 5 Reasons To Notify The Insurance Company After A Recent Hail Storm

1. If you have recently received damage you are more than likely REQUIRED to notify the insurance company under your policy.

2. In the future, they can deny a roof replacement claim due to undisclosed and previous damage.

3. There exists a statute of limitations on insurance claims.  Once this run out, the insurance company can deny your request to replace the roof.

4. You are paying for insurance in case of storm damage or similar reasons.  Why would you not use it?

5. Your rates CANNOT be raised for making a claim, whether approved or denied.  Repeat the words: CANNOT be raised.

So in the immortal words of Nike, Just Do It!

Notify the Insurance Company after a recent hail storm by making an insurance claim.  Get the estimated damage and monies available to replace your roof from the insurance company.

Bid out the job to at least seven different companies to find the best contractors at the best price.  Save tons of money. Enjoy your new roof.


Confused or want more information? Trying to understand the costs associated with replacing a roof?  Call, email, post to Facebook, or tweet to us.  No Fee, No Obligation, Just help for you.

Don’t want to talk to anyone and just want a quick, satellite photograph measurement to help estimate the cost for your roof?  Order the Quick Report

If you have a specific roof issue and can send us a photo via email, Facebook, or Twitter, we will do our best to advise you on the specific issue.

12
Oct

How does RoofBidders offer cashback on a roof?

Cashback on a Roof?How can RoofBidders offer cash back when traditional roofers cannot?

Replacing a roof costs thousands of dollars, which means someone (or multiple someone’s) are PAYING thousands.  However, RoofBidders claims to be able to give cash back.

How does this work?  Is RoofBidders rebating the deductible?

No, we are not rebating the deductible. We are not absorbing the deductible. Nor are we doing anything else  else that is considered a crime or could put a property owner in legal jeopardy.

REMEMBER: Slam the door shut if someone promises to replace your roof without you paying the deductible OR promises to absorb it or give it back. Insurance fraud is a felony.

Honest roofers, such as those who are either BBB or RCAT members, pledge to operate in a manner that keeps everyone away from insurance fraud and out of jail.

How does RoofBidders’ system save money and at the same time create cash back on a roof?

In the past, it was costly, as well as time and labor intensive, to estimate roofing or similar contracting jobs. This is even more so when a contractor is competitively bidding.  The contractor needs to know exactly how much the job will cost to determine a profitable bid.

Our ability to leverage highly sophisticated satellite technology that did not exist several years ago gives us a unique edge.   Couple this with competitive blind bidding and we get massive cost savings which in turn allows us to generate profits and share them with you.

We provide a unique platform for consumers and roofers – one in which both win.  All without anyone stepping foot on the property and most times you get cash back on your roof.

How does saving money for roofers help property owners?

Roofers spend a tremendous amount of money in sales and marketing.  Most roofing contractors send sales teams into neighborhoods to knock doors.  But RoofBidders bring the roof jobs directly to the roofer, saving 20-30% (typical sales commissions run 25%).

With huge cost savings, high quality roofers can afford to lower their prices and competitively bid on jobs.

This is why we save When Roofers Bid, You Win!


Confused or want more information? Trying to understand the costs associated with replacing a roof?  Call, email, post to Facebook, or tweet to us.  No Fee, No Obligation, Just help for you.

Don’t want to talk to anyone and just want a quick, satellite photograph measurement to help estimate the cost for your roof?  Order the Quick Report

If you have a specific roof issue and can send us a photo via email, Facebook, or Twitter, we will do our best to advise you on the specific issue.

31
Aug

Can I keep excess proceeds from an insurance claim?

excess money found from insurance

Can I keep excess proceeds from an insurance claim? 

Is it legal? Is it ethical? How much can I make? How to do it? The questions keep coming once someone gets the hint they can “make some money” by putting on a new roof.

Wrong! The focus should be finding the highest quality roofer who can install a quality roof at a competitive price.

Recently we received this comment with two excellent questions. In this blog, we’ll answer #1 and next #2

Love your blog and the info that is provided here. I am a bit concerned with shady tactics #4. You talk about how disreputable companies absorb deductibles and it being illegal, which I understand and agree with. My concern falls under the spreadsheet you post on your site multiple times regarding profit to the owner.  How is it legal and ethical to make me profit from a claim? {emphasis added by RoofBidders}

Isn’t that the same as absorbing deductibles? {emphasis added by RoofBidders} I only ask as I love the idea of this however don’t want to get involved into something that could get me into trouble. Look forward to hearing from you and keep up the good work!!

How is it legal and ethical to make a profit from a claim?

The most accurate answer is: “It is not; intentionally trying to profit from a claim is not legal”.  Yet, the key word is intentional.  Whether or not it is unethical depends on whether the actions are unethical, such as lying or duping the insurance carrier.

Is it legal (or ethical) to keep excess proceeds from an insurance claim?  YES!

When a homeowner uses RoofBidders, we share our profits, so there is not “excess” but we’ll tackle how that works next blog. But it can be legal and ethical to do so.  Here are two examples:

  • EXAMPLE #1: All insurance companies must permit homeowners to pick their own contractor.  Here is a section from my personal homeowner’s policy.  Note the final sentence…“You have the right to have your home repaired by the repair person of your ”

Assume you have a friend in the contracting business who agrees to do the work at cost or even as a favor for you. The insurance company will send the initial check (the actual cash value component).  Your friend (your selected contractor) completes the work for less than the money given to you. You, the homeowner keep the difference.  This is legal.

  • EXAMPLE #2: You do the repairs yourself since you are skilled in the trade.  Again, the insurance company pays the actual cash value, you do the work for less, and again you legally keep the difference.

So is it ethical to profit from an insurance claim?  Not if you are illegally gaining the proceeds.

In the above examples, we were dealing with the Actual Cash Value part of the insurance claim.  Things go awry when the homeowner or roofer fraudulently seek the second component, the replacement value payment (or recoverable depreciation).

  • It is illegal to dupe your insurance company so you can intentionally profit from an insurance claim.
  • It is illegal to lie and claim that a deductible has been paid, when it has not.
  • It is unethical, not to mention illegal, to look the other way and let the roofer handle the lying and duping instead of you doing it directly.
  • It is illegal for the roofer to kickback the deductible and thereby absorb or “pay” the deductible.

Sadly, these are exactly the tricks shady roofing contractors and unknowing or unethical homeowners are pulling.  These roofers are not the type RoofBidders works with or recommends.  More importantly, they are not the type of roofers a homeowner should use.

Would you start a relationship with a lie?

Disreputable roofers lie and cheat their way into people homes.  They convince homeowners that the insurance company does not care, does not know, and that “everyone” does it.

The roofer, as the direct contractor (meaning the one actual doing the work), lies to the insurance company regarding you, the homeowner, paying the deductible.  They submit fraudulent paperwork saying that they collected the deductible, and charged you more than they actually did.

Simultaneously, you lie and commit fraud by signing fraudulent paperwork or intentionally omit the truth.  Both you and the roofer have committed insurance fraud. The felony-type fraud that can send you to jail.

So, how does RoofBidders put money in your pocket?

RoofBidders is a completely new concept leveraging highly sophisticated satellite technology. We can cost effectively do what previously was not only impractical but also very costly. Because of these advancements in technology, we can profitably operate and in turn share our profits.

Stay tuned to Thursday’s blog where we go into exactly how RoofBidders is different and you can save money, maybe put some in your pocket, avoid committing a crime, and stay out of jail!


Confused or want more information? Trying to understand the costs associated with replacing a roof?  Call, email, post to Facebook, or tweet to us.  No Fee, No Obligation, Just help for you.

Don’t want to talk to anyone and just want a quick, satellite photograph measurement to help estimate the cost for your roof?  Order the Quick Report

If you have a specific roof issue and can send us a photo via email, Facebook, or Twitter, we will do our best to advise you on the specific issue.

25
Jul

5 Secrets Roofing Storm Chasers Don’t Want You To Know

Sleazy roofing storm chaser

Sleazy Storm Chaser

What sneaky tactics do roofing storm chasers use?

Large-scale storms with wide spread damage attract contractors who know that reputable businesses are overwhelmed.

Roofing storm chasers do what their name describes. Chase storms around the country to hawk their roofing contractor services.  While some companies are legitimate, many of these storm chasers are unscrupulous.

What are these shady tactics?

  1. Prey on the elderly.  Roofing storm chasers amp up their aggressive sales tactics when an elderly person answers the door.  Many elderly tend to be more trustworthy or give people the benefit of the doubt and therefore do not research the roofer. Storm chases will inflate the cost or ask for money on top of the insurance proceeds.
  2. Ask for cash up front. When widespread damage occurs, it might seem reasonable for a contractor to ask for a deposit to reserve their services.  Sadly, the day the homeowner gives the storm chaser $2,000 or more is usually the last day they will see them.
  3. Fake or create damage. Ball-peen hammers. Spoons. Golf balls. Dimes.  The list can go on and one. Roofing storm chasers have a terrible reputation for faking damage.  Creating or “adding” damage where none exists and collecting insurance money can carry criminal and civil penalties.
  4. Paying for the deductible. It sounds so good.  Get insurance money, get roof fixed, and never pay a deductible.  Disreputable roofing storm chasers pay for or absorb the homeowner’s deductible to get the business.  A homeowner is committing insurance fraud if the contractor promises to pay the deductible and does so.
  5. Negotiate for more money. In 44 out of 50 states, roofers cannot legally negotiate an insurance claim without an adjuster’s license.  Contractors can defend their pricing but not negotiate a claim settlement.  If negotiations are necessary, property owners should hire an experienced Avvo-rated attorney since they are paid only a percentage of any new money they negotiate for the homeowner.

REMEMBER:  Only use local roofers with great BBB ratings and outstanding reputations.  Get at least 7 bids from roofers before making a decision.


Confused or want more information? Trying to understand the costs associated with replacing a roof?  Call, email, post to Facebook, or tweet to us.  No Fee, No Obligation, Just help for you.

Don’t want to talk to anyone and just want a quick, satellite photograph measurement to help estimate the cost for your roof?  Order the Quick Report

If you have a specific roof issue and can send us a photo via email, Facebook, or Twitter, we will do our best to advise you on the specific issue.

28
May

5 Reasons To Notify The Insurance Company After A Recent Hail Storm

recent hail storm map texas

Thunderstorms Bring Hail to Texas

Why Notify The Insurance Company After A Recent Hail Storm?

One of the most frequent questions asked is “Do I need to call my insurance company?” or similarly, “Do I have to call my insurance company?”

The simple answer is YES.  Call and make an insurance claim.  Not only does it makes sense but you most likely must do it or you breach your insurance contract.

Homeowners often are nervous about making an insurance claim, even after storm damage.  Usually this fear stems from past experiences related to auto insurance.  That being, that rates will increase after a claim.  But property insurance contracts and State insurance laws are different.

Top 5 Reasons To Notify The Insurance Company After A Recent Hail Storm

1. If you have recently received damage you are more than likely REQUIRED to notify the insurance company under your policy.

2. In the future, they can deny a roof replacement claim due to undisclosed and previous damage.

3. There exists a statute of limitations on insurance claims.  Once this run out, the insurance company can deny your request to replace the roof.

4. You are paying for insurance in case of storm damage or similar reasons.  Why would you not use it?

5. Your rates CANNOT be raised for making a claim, whether approved or denied.  Repeat the words: CANNOT be raised.

So in the immortal words of Nike, Just Do It!

Notify the Insurance Company after a recent hail storm by making an insurance claim.  Get the estimated damage and monies available to replace your roof from the insurance company.

Bid out the job to at least seven different companies to find the best contractors at the best price.  Save tons of money. Enjoy your new roof.


Confused or want more information? Trying to understand the costs associated with replacing a roof?  Call, email, post to Facebook, or tweet to us.  No Fee, No Obligation, Just help for you.

Don’t want to talk to anyone and just want a quick, satellite photograph measurement to help estimate the cost for your roof?  Order the Quick Report

If you have a specific roof issue and can send us a photo via email, Facebook, or Twitter, we will do our best to advise you on the specific issue.

 

30
Apr

5 Myths About Insurance Claim Disputes

Insurance Claim Dispute Denied

Insurance Claim Denial

There are a lot misconceptions regarding insurance claim disputes.

Most roof replacements leverage insurance.  If you have storm damage, use your insurance!  You have paid premiums all these years, now reap your reward.

Remember an insurance company CANNOT raise rates for making a claim related to an Act of God (weather).

But what happens if your claim is denied?

Should you fight it?  Do you need an attorney?  

We get this question a lot!  But interpreting the state insurance code or your insurance contract is a legal area we do not handle. So, we asked Chip Lane from The Lane Law Firm to pen an article about denied insurance claims.  This article was also posted on The Lane Law Firm Blog.


Have a denied insurance claim but don’t know whether or not to hire an attorney?

Chip Lane, Esq – April 2015

Homeowners and roofing contractors often go it alone or hire a Public Adjuster because they believe one or more myths about how attorneys work and get paid. Unfortunately, these myths cost both homeowners and roofers lots of money.

Don’t fall prey to these 5 Myths About Insurance Claim Disputes and Attorneys:


MYTH #1: There will not be enough money to replace the roof after the attorney is paid.

TRUTH #1: There should be more than enough money to replace the roof.  Property owners, contractors, and public adjusters can only recover the amount of the property damages. By law, attorneys are entitled to their fees and costs, 18% interest, plus other penalties; all of which is paid by the insurance company, in addition to the amount of the property damages, when a denial or partial claim is improper.

MYTH #2: Attorneys demand money upfront.

TRUTH #2: A reputable insurance claim dispute attorney will not ask for money upfront; because they work on contingency and get paid only if they win.

MYTH #3: The insurance policy will be cancelled or the property owner’s rates will be raised if an attorney is hired or files suit.

TRUTH #3: State law forbids insurance companies from raising rates or terminating coverage because of a weather-related claim or if a property owner hires an attorney who sues the insurance company.

MYTH #4: Public adjusters (PA) are better suited to handle insurance disputes than attorneys.

TRUTH #4: Only an attorney can dispute denied claims or handle legal issues such as bad faith, slow payment, mental anguish, loss of income due to time off, or reimbursements. 

MYTH #5: Attorneys get paid on money they did not earn or the homeowner got on their own.

TRUTH #5: Attorneys only gets paid on the “net new” money; in other words only the additional money over and above what the homeowner already has. 


Remember, insurance policies and Texas insurance law provides that the insurance company should pay for the homeowner’s attorney’s fees and costs for a wrongful denial of a claim.

The bottom line is that an experienced insurance claim dispute attorney should get money over and above what the homeowner, roofer, or public adjuster is able to get and better yet, is only paid on net new money.  It is a no lose scenario for property owners and roofing contractors.


Thanks again to Chip Lane.  We hope you never have to deal with an insurance claim dispute but if you do and especially if it denial then take action.

Confused or want more information? Trying to understand the costs associated with replacing a roof?  Call, email, post to Facebook, or tweet to us.  No Fee, No Obligation, Just help for you.

Don’t want to talk to anyone and just want a quick, satellite photograph measurement to help estimate the cost for your roof?  Order the Quick Report

If you have a specific roof issue and can send us a photo via email, Facebook, or Twitter, we will do our best to advise you on the specific issue.

24
Feb

Will filing an insurance claim increase premiums?

insurance claim

Homeowner’s Insurance Policy

Will An Insurance Claim Increase Premiums?

Most people associate filing an insurance claim with rising policy rates.  The fact is, this is usually not true.  Claims made due to “Acts of God” such as wind, hail, or other storm damage will NOT cause an increase in your premiums.  Furthermore, insurance companies CANNOT drop your coverage for making such a claim.

Property insurance is different from auto insurance.  Auto insurance has dozens, sometimes hundreds of tiers for premium rates.  Auto insurance rates consider claim history, citation record, driver’s license points, and various other factors which contribute to the policy owner’s tier and premium.  But when in comes to property insurance premium rates, claims they do not necessarily dictate the rates for homeowner’s insurance.

Homeowner’s insurance focuses more on the region in which the property is located.

As previously mentioned, an insurance company cannot raise an individual’s rates when a claim is filed due to weather-related damage.  The number of catastrophes an area has suffered in the past few years, the potential risk in the area, the type of residential home, the amount of coverage bought, and other factors dictate premium cost.

Filing one claim will not spike an individual premium rate.

Premiums may go up in the subsequent years, but it is not a direct result of a legitimate claim. The premiums are usually raised in bulk for a given region, not individually, and insurance companies can only submit rate increases once per year.  Thus, when asking yourself, “will filing an insurance claim increase premiums?” tell yourself, “No, it will not.”

In fact, if you have a loss with significant damage, the right thing to do is file the claim.

Why file an insurance claim instead of paying out-of-pocket?

First, you have been paying premiums every year for exactly this reason.  Why not use your insurance for what it’s designed?   Second, most policies require that you MUST notify the insurance company if you have significant damage or coverage could later be rejected for “hiding” this information.  Could you still to choose to pay for your roof out-of-pocket and never use insurance money?  Sure, but if they offer money we suggest taking it.  Think about it for moment…they are returning some of your money you previously gave them.

Finally, rates tend to go up so take advantage of your insurance coverage when you get the opportunity.


Confused or want more information? Trying to understand the costs associated with replacing a roof?  Call, email, post to Facebook, or tweet to us.  No Fee, No Obligation, Just help for you.

Don’t want to talk to anyone and just want a quick, satellite photograph measurement to help estimate the cost for your roof?  Order the Quick Report

If you have a specific roof issue and can send us a photo via email, Facebook, or Twitter, we will do our best to advise you on the specific issue.