Roofclaim.com Reviews

In response to insurance rate increases, insurer insolvencies, and underwriting restrictions, RoofClaim.com, a name that has recently given the Florida insurance industry indigestion, announced that it is now providing no-money-down roof financing. A senior insurance executive claimed that roofers are using the financing plan as a way to get around a Florida law that prohibits contractors from offering to cover homeowners' insurance deductibles following a claim.

This is the ideal way to get around any deductible, according to Bob Ritchie, CEO of the Tampa-based American Integrity Insurance Group, who spoke Thursday at a webinar held by the financial rating company Demotech. They'll submit a claim, increase the cost, and obtain a settlement that is above market.

Representatives of the company declined to comment on the allegation but claimed that the financing plan might actually help insurers. According to Steven Houston, an attorney for the company, "RoofClaim.com views the new in-house financing option as a way to help insurance companies retain their customers while allowing homeowners to enjoy a safe and secure home—regardless of the weather." In essence, we believe that all parties involved will benefit from this.

RoofClaim.com describes itself as a national service technology company, but it has established itself as one of the nation's largest roofing firms and the subject of numerous assignment-of-benefits lawsuits against Florida property insurers.

According to news reports, the company, which has its headquarters in Kennesaw, Georgia, has so incensed some Florida insurers that the sector collaborated with state lawmakers in 2019 to thwart a multimillion-dollar agreement to place the RoofClaim.com name on sports venues at two Florida universities. When the company agreed to sponsor the 2020 Boca Raton Bowl of college football, critics reacted angrily.

Is roofclaim.com legit or just a scam?

William Stander, the director of the Florida Property & Casualty Association, told the Sun Sentinel newspaper in 2020 that it was "a shame" that the bowl game organisers chose to accept money from "an out-of-state operation that's the poster child for why home insurance rates are going up." According to the newspaper, Jasper Contractors, a business with operations across several states based in Georgia, is the company that owns RoofClaim.com.

In 2020, William Stander, director of the Florida Property & Casualty Association, told the Sun Sentinel newspaper that insurance rates were rising. According to the newspaper, Jasper Contractors, a business with operations across several states based in Georgia, is the owner of RoofClaim.com. Brian Wedding, who also serves as president of Jasper, is the CEO of RoofClaim, according to records maintained by the Corporation Division of the Florida Secretary of State.

Approximately 657 lawsuits have been brought by Jasper Contractors against various Florida property insurers since 2018, according to data compiled by the Florida Department of Financial Services. The majority of the disputes involve claims relating to benefit assignments. An exhibit in one AOB lawsuit filed by Jasper in late 2021 against Citizens Property Insurance Corp. is the homeowner's signed RoofClaim.com AOB contract. It is unclear how successful the company's new financing programme will be. The website RoofClaim.com states that the interest rate is 9.9%.

AOB litigation may no longer be as lucrative for AOB contractors and their attorneys as it was as of last week. After the governor's signature on May 26, Senate Bill 2D, which was approved during the Florida Legislature's special session, became law. It prohibits awarding assignees' attorneys' fees in AOB cases. Additionally, it eliminated the fee multiplier system, which some law firms might find deterring in regards to accepting AOB claims.

Benefits of Roof Cladding

Additionally, the law mandates that contractors warn insureds in large print that paying or waiving the deductible is illegal and that the homeowner is responsible for it. SB 4D, another bill approved during the session, modified the state building code. Up until last week, the code mandated that the entire contiguous area of the roof must be replaced if even 25% of the roof surface was damaged. Insurance companies can now more easily decide against a roof replacement in favour of less expensive repairs.

The law also permits insurers to offer distinct roof deductibles on HO policies, with amounts up to 50% of the cost of a new roof. Representatives from the insurance sector contended that this might spur more financing deals for roofs that would pay the high deductible. Houston, the lawyer for the roofing company, stated, "Regardless of any legislative changes, RoofClaim.com remains dedicated to providing top-notch customer service and excellent workmanship—backed by our industry-leading million-dollar guarantee."

The finance plan is a good option for homeowners who might be facing higher insurance premiums or who have been forced to find a new insurer in Florida's troubled insurance market, according to the firm's news release, which made no mention of deductibles or assignment of benefits.

Many property insurers have stopped writing policies for homes with roofs older than 10 years in the last two years, forcing some policyholders to spend thousands of dollars on a new roof before renewing their policies. A seven-year roof age restriction was recently announced by American Integrity. This threshold was increased by SB 2D to 15 years statewide, prohibiting insurers from excluding homes with roofs under that age.

Disadvantages of Roofclaim

Houston stated that RoofClaim.com works to offer affordable options to homeowners who might not be able to pay for a new roof out of pocket or who have seen changes in their insurance coverage due to rising inflation and supply shortages that are affecting almost every sector. He further stated that all documentation could be signed and submitted via the company's website, RoofClaimFinancing.com.

Homeowners are welcome to complete all the paperwork on their own, or our customer service representatives will be happy to help. According to one insurance industry leader, the financing plan may actually show that RoofClaim has "finally gone legit" after recognising the writing on the wall made clear by the recent legislation.

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