Quote:
Originally Posted by SharonW
First of all the roofer is not the insured you are. 2nd, there are lawyers who will Sue insurance companies on behalf of the insured every day. No different than a liability claim. This is what they do for a living.
Yes, it happens everyday. Companies will settle to keep cost down. Everyone complains about premium increases but have no idea the cost vs claims paid out.
Example: $250,000 insured 1800 square foot home. Roof replacement around $10,000. You pay an annual premium of $800.00. Deductible $1000. Company pays out $9,000.
9,000 divided by 809 = 11.25 Years of premium. Multiply that by a neighborhood of homes. Throw in wind, sinkhole, lightning, water claims etc. that is just property claims.
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That doesn't answer my question. Why would an insurance company pay $9,000 for a claim that has no merit? Most people are not going to hire a lawyer to sue an insurance company. There are a lot of roofs being replaced in The Villages that were not totally damaged by wind. Many of them only have minor damage or none at all.