by Dave » Thu Sep 04, 2008 02:39 am
Is it legal in MN for a roofing contractor to pay your insurance deductible if they offer you an equitable exchange in return? Equitable exchange may be a sign in the yard, use of name as a satisfied client and/or referrals?
Thanks!
Thanks!
Posted: Thu Sep 04, 2008 01:11 pm Post Subject:
Well..talking about Storm Chasers..they have a brand for it in MN.
For older roofs, the payment may even not be close to covering the materials.
Under such circumstances the mortgage cos. would find a role to play. I've heard that giant carriers would also reimburse cent percent claim amounts through licensed contractors at times. But the contractors would never appear on checks.
I was told that there are owners who got fed for the entire claim worth (with even roofs aged 5-6 years) & that too in the absence of mortgage companies.
ArindamSenIndies
Posted: Thu Sep 04, 2008 01:35 pm Post Subject:
Hi,
I had a word with a roofing-contractor in MN once, who said that he needed almost 10 years to develop his goodwill..& for that he didn't need to go for advertising.
Now, that his crew are getting 2 times to that of the Mexico crew..all he finds is that even though he has not become a rich man...but he is certainly leading a comfortable life!
Roddick
Posted: Thu Sep 04, 2008 01:42 pm Post Subject:
Hi..remember the cruel hailstorm in 2006!
I won't forget...how it left so many homes with roof damages.
I'd still hear about homes that have leakages even today..it seems home owners would only learn at the expense of such hardships that choosing an outstation contractor won't do any good to them.
Regards,
ArindamSenIndies
Posted: Thu Sep 04, 2008 01:57 pm Post Subject:
I was surfing through some construction forums a couple of days back..& believe it or not..I remember a roofing contractor who'd self-proclaimed how "rich" he is today. He is from MN, owns a good number of trucks & a couple of farms (& that too without mortgages). This chap is 50 years old..earned a good name for him doing his roofing job for more than a score of years now!
Roddick
Posted: Thu Sep 04, 2008 02:09 pm Post Subject:
Yes, since storms could be of varying measures it is not always possible for the local roofers to fix them. The roofers would now-a-days check for the insurance availability of their customers in order to offer a moderate quote. Under a no-competition scenario they would offer quotes higher than the insurance companies. On the other hand, under a steep competition they would always offer cheaper quotes.
ArindamSenIndies
Posted: Sat Sep 06, 2008 05:55 pm Post Subject:
Posted: Sun May 16, 2010 01:03 am Post Subject:
Bottom line is if a contractor gives you something like a preferred customer rebate or an advertising rebate, then it technically isn't covering your deductible, and therefore isnt illegal. There really doesn't seem to be anything, anywhere that states it would be illegal for a contractor to cover a deductible even if they state it outright.
Posted: Sat Mar 31, 2012 06:41 am Post Subject: rFzsFcpTzMxIwlMte
Most companies are using very cpeolmx rating methods that include the credit score as part of the rating. I was not aware that it could cause that much of a shift in the premium though. One thing I do know is that personal line rates (home owners insurance and personal vehicles) are going up right now. That increase combined with your credit issues may be what is causing the higher rates. If you have your insurance through a broker, have them look around and rate you with other companies to see what happens. If you are with a captive agent (meaning they only work with one company) ask some friends for good references and find an independent agent to give you some quotes. Some states have already passed laws banning the rating technique. There are a number of insurance departments and legislators that are reviewing whether or not they should allow the use of a credit score to be part of an insurance rate. If you want to help out their research, give you senator/representative a call or email and let them know how you feel as well.
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