Sure inflation is a problem. I still think grifting causes some of these increases in cost. "Let's replace the roof, because insurance pays." If insurance didn't exist, you would replace the roof when it needed it. Roofer wouldn't swoop in every time there was a hailstorm. Our insurance almost got cancelled after the last hailstorm. https://www.forbes.com/advisor/insurance/fraud-statistics/
Anna - in this instance, regarding roofing, you're 100% correct. This is a pretty well-known scam - if you will. The roofing industry lobbyists somehow got it written into law that if roofs are "damaged by hail", the insurance companies are liable for the cost of replacement.
After hailstorms, unscrupulous roofers canvass the neighborhoods, going door to door, offering free inspections. Then, as you say, people figure, it it's covered by insurance, why not?
Even worse, in Florida, somehow insurance lobbyists have had it written into law, that if your roof is more than 10 years old, they can drop you. A few people I know have had to pay for a new roof, in order to retain their homeowner's insurance.
Both are robbery, and ultimately the roofers benefit in both instances. As always, follow the money. It also gives you an idea of what our legislators do all day, while we're hard at work so we can pay their salaries.
As Shakespeare said, "The first thing we do, let's kill all the roofers."
Nope, insurance is not inflating prices. It's not hard to understand. Insurance covers risk of covering replacement cost - houses, cars, etc.
Inflation has caused the prices of all materials to go up --> replacement cost is up. A house used to cost $100/SF to build, now it costs $300/SF.
So, yeah - lose a roof and now it costs $30K to replace it, not $10K, so what do you think happens with insurance premiums?
Sure inflation is a problem. I still think grifting causes some of these increases in cost. "Let's replace the roof, because insurance pays." If insurance didn't exist, you would replace the roof when it needed it. Roofer wouldn't swoop in every time there was a hailstorm. Our insurance almost got cancelled after the last hailstorm. https://www.forbes.com/advisor/insurance/fraud-statistics/
Anna - in this instance, regarding roofing, you're 100% correct. This is a pretty well-known scam - if you will. The roofing industry lobbyists somehow got it written into law that if roofs are "damaged by hail", the insurance companies are liable for the cost of replacement.
After hailstorms, unscrupulous roofers canvass the neighborhoods, going door to door, offering free inspections. Then, as you say, people figure, it it's covered by insurance, why not?
Even worse, in Florida, somehow insurance lobbyists have had it written into law, that if your roof is more than 10 years old, they can drop you. A few people I know have had to pay for a new roof, in order to retain their homeowner's insurance.
Both are robbery, and ultimately the roofers benefit in both instances. As always, follow the money. It also gives you an idea of what our legislators do all day, while we're hard at work so we can pay their salaries.
As Shakespeare said, "The first thing we do, let's kill all the roofers."