Lawsuits and Property Insurance Companies – Mezzanine Financing Legal News

The owner should be informed about their roof’s age. A roofing contractor then prepares an estimate of how much it will cost to repair or replacement of the roofing.

Unfortunately, some roofing companies cooperate with lawyers to profit from the property insurance companies. They are filing fraudulent storm damage claims, and earning hundreds of dollars.

Florida law demands that a property insurer will replace the entire roof for a roofer that claims more than 25 percent damage in the structure. This is called the replacement cost valuation.

The study of 2019 revealed that over 70% of claim funds awarded paid attorney fees for roofers. Insurance companies are losing millions each year because of this.

According to the video, insurance firms are withdrawing from this state Florida so that they can avoid liquidation. Some aren’t renewing property insurance based on the age or life expectation of their roofing.

Governor Scott has sought to stop the abuse. Governor signed legislation which restricts contractors from soliciting insurance for roof repairs. ydzda9ceet.

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