Phil Sanov's First Party Parlay - HAIL & STORM DAMAGE

TL;DR

In this episode of Phil's First Party Parlay, lawyer Phil Sanov discusses timely topics related to insurance claims with guest Kris Kincaid, a roofing company owner. They cover the importance of hiring local, certified contractors, the legalities of deductibles, and the impact of COVID-19 on insurance claims.

Transcript

• Alright, we are broadcasting live. Welcome to Phil's First Party Parlay where we talk all things timely and topical in the insurance restoration industry. I'm Phil Sanov, trial lawyer With Morgan and Morgan's Insurance Recovery Group. With Morgan and Morgan Insurance Recovery Group, I have 55 of the most awesome attorney colleagues you would ever... Read More

Key Insights

• 🧑‍💼 Hiring local, certified contractors with a permanent office in the area ensures accountability and better quality of work.
• 👮 Understanding and complying with insurance deductible laws is crucial to avoid legal and financial consequences.
• 🥺 The COVID-19 pandemic has led to changes in the way insurance claims are processed, with some companies relying on documentation provided by contractors rather than in-person adjusters.

Questions & Answers

Q: What sets RCAT contractors apart from other roofing contractors?

RCAT contractors are vetted, have a permanent office in the area, and adhere to strict standards and regulations set by the association. They also have regular meetings to share industry insights and best practices.

Q: Why is it important to pay the deductible in insurance claims?

Paying the deductible is required by law and failure to do so can result in legal consequences. Contractors who offer to cover or waive the deductible are engaging in illegal practices.

Q: How is COVID-19 impacting insurance claims?

Some insurance companies are opting to not send adjusters in person due to COVID-19. This can lead to quicker claim processing but may also result in less accurate assessments if adjusters rely solely on documentation provided by contractors.

Q: What is Fund My Deductible and how does it help homeowners?

Fund My Deductible (FMD) offers financing options for homeowners to pay their insurance deductibles. This helps homeowners stay compliant with the law while easing the financial burden of the deductible upfront.

Summary & Key Takeaways

• Kris Kincaid explains the benefits of hiring local contractors who are members of the Lubbock Area Roofing Contractor Association (RCAT) and have a permanent office in the area.

• The discussion highlights the importance of understanding and adhering to the laws regarding deductibles for insurance claims, as well as the role of Fund My Deductible in helping policyholders stay compliant.

• The impact of COVID-19 on insurance claims is discussed, with some companies opting to not send adjusters in person and relying on documentation provided by contractors.