Why do some roofing companies claim they can “save your deductible”? The simple answer is because they want you to sign and they are willing to cut corners and help you defraud your insurance company.
The long answer has three parts: your insurance; the roofing contractor; and how it affects you.
About your insurance:
You have a contract with your insurance company where you will pay your deductible and they will cover the remainder to replace your roof. The total value including your deductible is the Replacement Cost Value or RCV for your roof. A good roofing company will communicate with your insurance to make sure they estimate the RCV at fair market value and incorporate everything you need for a sound, quality roof. Basically the RCV is what it will cost to replace your roof with one of equal quality.
About the roofing contractor:
If a roofing company is willing to save your deductible by knocking hundreds or thousands of dollars off of their price then they are accepting less than fair market value for the roof. All companies have to make a profit to stay in business so how does a company that accepts thousands less make their profit? They reduce their costs by using inferior products or save on labor by using sub-par installation practices or installer that are not fully trained.
What this means for you:
After the roof is replaced, the insurance company needs documentation of how much the roof costs, what the contractor actually charged, before they will release all of the estimated funds. This means that you and a roofing contractor will have to tell your insurance company that you paid the full RCV for the roof, including your deductible. If the roofing contractor saves your deductible they will have to send fraudulent documents to your insurance company on your behalf. This is insurance fraud and it is illegal, you, the contractor or both could be fined up to $10,000.
Your roof protects your home, family, and all of your possessions from the weather so before you try to see how much you can save, think about what it could end up costing you.
Lone-Star Roof Systems is a GAF Master-Elite certified, Certainteed Shingle-Master certified, and uses quality products and high workmanship standards on all jobs. For more information read our website, our Angie’s List reviews, and our Better Business Bureau page.
Contact Lone-Star Roof Systems, LLC. at one of our 3 offices today!
Mailing Address for All Offices
1511 South Texas Avenue, #172
College Station, TX 77840
College Station Office
722 Peach Creek Cut Off, Ste. 100
College Station, TX 77845
5040 Grisham Dr., Suite 103
Rowlett, TX 75088
15219 Stuebner Airline, #12
Houston, TX 77069