At this time, BLUE ROOFING will remain open as an essential service provider. Our team members have been asked to stay home if they have a temperature over 99 degrees, or any other combination of symptoms, and we are adhering to the recommended workplace precautions put forth by CISA/OSHA and the Governor's Office.
By now you may have heard that a new law relating to the payment of insurance deductibles took effect on September 1, 2019. If you are interested to read the bill in its entirety, there is a link below this section that will take you directly to the text.
In the meantime, we have summarized the important parts that every customer needs to understand.
1. What has changed?
Prior to the passing of this bill, homeowners were already required to pay their full insurance deductible under what is known as “Contract Law”. The idea is that when you purchased your insurance plan, you agreed under contract to shoulder a portion of the burden should the need to file a claim arise. The State of Texas may not have had a direct interest in whether you actually paid your deductible, but your insurance provider reserved the right to enforce the contract should they choose to.
With HB2102, the verbiage relating to deductible payments has been added to State Law as well as your contractual obligation.
2. Who is at risk?
It’s important to understand that this law was written to get a handle on the rampant insurance fraud being committed by unscrupulous contractors - and not to punish homeowners. While you may have a contractual obligation to pay your deductible, it is the Roofing Company who will be charged with a misdemeanor if they are found to have paid, waived, absorbed, rebated, or otherwise declined to charge and/or collect the full deductible.
3. How will this be enforced?
The new law gives insurance companies the right to ask for reasonable proof of deductible payment before they will be required to release any funds. It is too early to tell how often and to what degree this will be enforced, but it is important to understand.
4. What can be done to ease the burden?
The first thing you should do as a homeowner is review your policy documents and make sure that your deductible is set at threshold that you can afford. It does you no good to save a few hundred dollars on an annual policy if your deductible is several thousand dollars above what you can realistically afford. We cannot stress this point enough - set a time to contact your agent and review your policy as soon as possible.
Beyond that, know that we offer both in-house payment plans for smaller jobs, and that we are partnered with Hearth Financing to offer loans from $1000.00 to $100,000.00, with terms from 2 to 12 years. You can get pre-approved and view several payment plans without pulling your credit here.