Can roofing company pay my deductible?
This means that roofers are prohibited by law from covering or paying an insured person’s deductible, waiving an insured person’s deductible, or finding alternative ways to reduce an insured person’s roof costs in line with the amount of the deductible.. If your roof has been damaged in any way and you’ve taken out homeowner insurance, there are a number of factors that determine what’s covered and how much the insurance company actually pays. Homeowners are often approached by seemingly legitimate contractors and it is “completely legal” to cover a deductible for insurance repairs.. Some roofers make it so common that they openly advertise “Free Roof on Yard” signs and door hangers..
Offering a completely “free roof” may sound appealing — is it legal? No, it isn’t. A homeowner’s insurance policy is actually a contract between you, the homeowner, and your insurance company.. This policy sets out the responsibilities of each party should an unforeseen event (such as a hailstorm) occur and a lawsuit must be filed. There is a section in this contract that explains what the homeowner is responsible for (deductible) and what the insurance carrier is responsible for (benefits, limits and exclusions).
It is not only insurance companies that are financially responsible if something happens; all homeowners are also responsible. Homeowners who don’t pay their deductible are technically committing form insurance fraud.. The following are some of the current languages in a standard insurance contract. There are variations of this in each homeowner’s guidelines..
you shop for a better roof price, you don’t save a deductible. Roofers who offer to waive deductibles for roof replacements and offer you a “free roof” are a long-standing practice in many states.. Stay away from contractors who. You’re doing yourself a favor by paying your full deductible for roof replacement and hiring a more reputable contractor..
Unfortunately, too many roofers absorb these deductibles.. This effectively means that the additional costs from the insurance company to the homeowner are simply passed on to the contractor, who waives the deductible to get the project.. The homeowner doesn’t care, it’s not out of his pocket. The insurance company doesn’t care, their own pocket was reduced due to the damage.
Since insurance companies automatically deduct the deductible from the claim payment, roofers who cover deductibles must either artificially increase their estimates to cover the deductible or find a way to complete the contract for less than the actual cost — usually through low-quality ones workmanship, cheap labor, or cheap materials. Any roofing company that is willing to commit insurance fraud to build your business shouldn’t let you near your roof.. For example, if a house suffered roof damage after a strong storm, insurance regulators would determine the cost of repairing the roof. This makes it a criminal offense for a roofer to pay, waive, absorb, discount, compensate, etc..
In these circumstances, this violation occurs when you or your roofer lies to the insurance company to avoid your deductible.. Coryell Roofing specializes in helping commercial property owners with insurance claims — in particular for storm-related roof damage such as hail, wind or water damage. The roofer tells you that their company will replace your roof and cover your deductible for you, that they can deduct it from the project costs, and they really want to help you. If you find a roofer who is willing to adjust the numbers so you can avoid paying your deductible, run away.
Roofers who cover a homeowner’s deductible lie to insurance and mortgage companies. You can’t complete the roofing work yourself, and you certainly can’t use any of that money for anything else to repair your roof.. The roofer is willing to waive your deductible or discount it to win the job and insurance covers the rest.