Wish I had known Wednesday is for you to take away just a little bit of Real Estate/Home Owner knowledge that, perhaps, you just never thought of or simply did not know to consider. Today’s “Wish I had Known” segment is about ROOFING
Do I Have Hail Damage to My Roof?
Common characteristics include:
- Random damage
- Impact marks
- On wood roofs, splits with sharp edges
How Do I File a Roof Claim?
If you believe you have hail damage, but do not have a water leak, get a free estimate from a roofer before you file a claim with your insurance carrier.
Which Roof Contractor Should I Choose?
- Select an established, licensed, or bonded roofer. Texas does not require roofing pros to be licensed.
- Get references as well as certificates of insurance (both liability and workers compensation), and verify they are active when your work is scheduled.
What Should the Roof Repair Estimate Include?
Request a detailed estimate (written or digital)
- Quantity of materials needed
- Labor charges
- Work specifications
- Approximate starting and completion dates
- Payment procedures
- Warranty details – review conditions that would void it
- Use caution and ask questions before accepting a bid substantially lower than other bids for the same repair work.
- Contact your local Better Business Bureau to check for complaints filed against the contractor.
No Waiving of Deductibles- not just good idea- it’s the LAW Texas HB2102
The first full paragraph states: “A person insured under a property insurance policy shall pay any deductible applicable to a first-party claim made under the policy” See Tex. Ins. Code §707.002. This really has always been the law but has been ignored and not enforced.
The new law creates a Class B misdemeanor offense of 180 days in county jail and a fine of up to $2000, for (1) a business who sells goods or services to provide such a good or service in such a prohibited manner (violating contractor), (2) an insured (policyholder)who commits an offense if the person, in connection with a first party claim knowingly submits or allows a claim to be submitted in violation of subsection c, (the violation section directly above) unless the insured person promptly notifies the insurer of the violation.
The new law provides that it is a violation of this law if a contractor:
- Pays for
- Credits or Offsets or
- Otherwise assists the insured in any other manner in avoiding monetary payment of the required insurance deductible or provides a good or service knowing that the insured will pay for the good or service with the proceeds of a claim under the policy and without the insurer’s consent to do so.
Reasonable Proof of Payment
Another key provisions is Section 707.004 provides that an insurer may refuse to pay a claim for withheld recoverable depreciation or replacement cost holdback until the insurer receives “reasonable proof” of payment of the deductible by the policyholder. “Reasonable Proof” is set out in the statute as consisting of a: “canceled check, money order under receipt, credit card statement, or copy of an executed installment plan contract or other financing arrangement that requires full payment of the deductible over time. Tex. Ins. Code §707.004.
Looking to buy or sell and have questions about where to begin or how to restart the process- text me your info and we can schedule a consult this week!
Ebby Halliday Rockwall
“Making YOUR real estate dreams a reality!”
Licensed in CT & TX