What's interesting is the entire thing is a game. I live in Florida.
Had a roofer come by a couple years ago saying that a storm had come through a few months ago and there had been hail. So if he goes up on my roof and is able to find proof of hail damage I get a new roof for free. I needed a new roof at the time so while I generally look poorly on solicitation, I told him go ahead.
A month later I had a brand new roof that cost me $1,000 out of pocket instead of $25,000.
These guys must have done 10 roofs within a few streets of my house.
So while the 250k is not a lot for an insurance company to eat, I am sure when that is multiplied by 1000's over the state, it gets expensive.
With that said, I also had a flood (10 inches of standing water) during a storm and my flood insurance company denied my claim because my sunken living room was considered a basement (2 steps down from the main floor). Turned into an indoor pool. So that was a nice $50k I had to spend out of pocket. I even paid separately for flood insurance as my hoi does not cover flooding. So total waste of money on that.
The entire thing is a circle of people scamming each other.
These guys must have done 10 roofs within a few streets of my house.
So while the 250k is not a lot for an insurance company to eat, I am sure when that is multiplied by 1000's over the state, it gets expensive.
With that said, I also had a flood (10 inches of standing water) during a storm and my flood insurance company denied my claim because my sunken living room was considered a basement (2 steps down from the main floor). Turned into an indoor pool. So that was a nice $50k I had to spend out of pocket. I even paid separately for flood insurance as my hoi does not cover flooding. So total waste of money on that.
The entire thing is a circle of people scamming each other.