Roofing and insurance settlement

[MULEY4X4]

We just had our roof replaced less than two years ago and this was paid out of pocket. We had hail damage just like a lot of other people in the metroplex. It was deemed that the roof is a total loss. For the sake of the argument I'm getting a check.

What I don't understand is why the roofing companies won't even bid it before they get the paper work? Everyone that I've talked to said send over your paperwork and we will go from there. I'm not trying to collude but how is fair market value whatever the insurance deems to be?

[8mpg]

Roofing companies wont bid it or insurance wont bid it?

If its the insurance, they wont do anything without a filed claim. If its the roofers, that one surprises me as they are usually like vultures out trying to make some money. They may not want to "waste their time" without knowing the insurance is paying though.

[MULEY4X4]

Roofing companies wont bid it or insurance wont bid it?

If its the insurance, they wont do anything without a filed claim. If its the roofers, that one surprises me as they are usually like vultures out trying to make some money. They may not want to "waste their time" without knowing the insurance is paying though.

Check is on the way. I know exactly what the invoice was from two years ago. I was told that supply and demand has changed from Mid 2014. They want to see the insurance paperwork before submitting a bid.

[kpc01]

they want to see the insurance paperwork so they can tailor their bid to get all the money they can. They will say they can "eat" your deductible but the main reason they want to see it is to get it all. I have a guy I use on all my personal stuff and all my rentals and he will come quote it without insurance and in fact he usually insists on doing it without seeing it so that you know he's giving you an honest bid

[svauto-erotic855]

They just want to see how much the insurance company wants to pay so they can get every cent of it. I have seen a few people get a roof without telling the roofers that there is an insurance company involved in the deal and the bid comes in at about half.

[MULEY4X4]

they want to see the insurance paperwork so they can tailor their bid to get all the money they can. They will say they can "eat" your deductible but the main reason they want to see it is to get it all. I have a guy I use on all my personal stuff and all my rentals and he will come quote it without insurance and in fact he usually insists on doing it without seeing it so that you know he's giving you an honest bid

This is what I was figuring. I figured they would maximize whatever the settlement $ was.

They just want to see how much the insurance company wants to pay so they can get every cent of it. I have seen a few people get a roof without telling the roofers that there is an insurance company involved in the deal and the bid comes in at about half.

I was like I have the invoice from not long ago. Obviously I know what it was two years ago.

[stangin4lyfe]

Yup, just what others have said...
Make sure you understand your insurance scope of loss to the T(every single line item and ACV and recoverable depreciation, etc) and make sure that the roofer replaces exactly what is stated on the insurance paperwork(roofers love to cut corners...drip edge, flashing, vents, pipe jacks, etc).
Most roofers figure price by the square vs itemized lists provided by the insurance company(which legally they should be going by).

[blownaltered]

They just want to see how much the insurance company wants to pay so they can get every cent of it. I have seen a few people get a roof without telling the roofers that there is an insurance company involved in the deal and the bid comes in at about half.

I call bullshit. The only way the bid is half is if they aren't doing the other work the insurance paid for. That would be gutters, garage door, fence staining etc. The insurance companies don't pay double what a roofing company charges. I will say I know more about insurance pricing and roofing cost than anybody on this board so when I say bullshit, I do mean bullshit.

Let's also not forget that most the manufacturers are either going on or are on allocation. Which means the price of material is going to jump by a ton in the next few weeks. My prices on material go up on Monday and this time they will go up around 5 to 10 percent and that will not be the only time. Also labor jumps up during a storm because every out of town shit head or everybody who thinks they can make quick money becomes a roofer over night offers more money to the roofing crews in the hopes of getting local labor.

[8mpg]

Id tell the company to take a hike. Im sure they want to maximize money but its not theirs. Get some other company quotes. They are all super busy with all this hail.

[MULEY4X4]

I was contemplating waiting about 6 months to fix the roof. I figured things should settle down by then. Plus I wouldn't be looking at another claim if another hail storm came through. Any input?

[8mpg]

A guy I work with got hit with hail again, 2 weeks after the first insurance claim... he got to pay a 2nd deductible.

[fordracing19]

After a storm how long do you have to make a claim?

[Rick Modena]

After a storm how long do you have to make a claim?

As long as you have the date it got damaged, you can wait to file a claim. Though its not going to cost you anything to get the insurance out to file a claim and do their adjusting. They actually tell you to wait til the spring/bad weather season is over before you get the roof fixed so as not to get hit with a double deductible.

And I'll tell you guys what I did at my last house when we got hail damage. I had the insurance come out and adjust my roof, they gave me a check on the spot for I believe was 80% of the entire amount minus my deductible. I waited a few months and I then had a few roofing companies come out and give me an estimate, I never mentioned the insurance check and I told them I was paying cash. After they finished I turned in the receipt and got the other 10% of the check...

[blownaltered]

I was contemplating waiting about 6 months to fix the roof. I figured things should settle down by then. Plus I wouldn't be looking at another claim if another hail storm came through. Any input?

These storms are so large it will be next year before anything slows down. Prices are going to keep going up because of shingle prices over the next few months. Those will peak out but will not drop back to normal market value for at least a year. The one positive about all these hikes is the insurance actually has to pay for the price increases. So if you get your adjustment and wait to do the roof. Who ever you choose to do the roof can make a supplement to the insurance company for current market prices and the insurance will pay the difference.

[svauto-erotic855]

I call bullshit. The only way the bid is half is if they aren't doing the other work the insurance paid for. That would be gutters, garage door, fence staining etc. The insurance companies don't pay double what a roofing company charges. I will say I know more about insurance pricing and roofing cost than anybody on this board so when I say bullshit, I do mean bullshit.

I can only repeat what I was told. I believe that the insurance paid 38k in one instance and he was able to get it done in the low 20s.