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Originally Posted by Gladys Turnip
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Okay, this is really good. That is, like the OP, I also kept hearing about the "roofing scam" and wondered how it worked. And this explanation from Randall55 is excellent, thank you.
But my question is this phrase is Randall55's explanation: "a new roof paid in full by the insurance company."
WHY would the insurance company pay for a new roof without confirming that the roof was in fact damaged? With automobile collision damage the insurance company sends out an adjuster to evaluate the claim. Wouldn't the insurance company do the same thing with an alleged damaged roof? Could someone please explain this. Could the insurance companies really be that dumb? And finally, once this scam became widely known, couldn't (wouldn't) the insurance company put a stop to it by starting to send out adjusters to confirm the damage? Thanks for any insights you might have.
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The insurance adjusters did deny the claim. Since the roofer had the homeowner sign their benefits over to them, they called their attorney who had been waiting and lawsuit filed. Insurance companies had to make a decision. Pay for roof or pay hundreds of thousands of dollars to fight the claim n court. (Still ended up paying $ 1.7 billion in just over a year) bankrupted company’s and many just packed up and left Florida. The companies that are still in Florida had to raise their premiums because they are insuring a lot more clients and had to build their reserves back for future claims. Think about this, out of 100% claims in US, 70% are filed in Florida.