So many perspectives. This one is interesting. Always try to learn from Adjustor. I have lost work telling customers they don't have hail and then another contractor says they do and does the roof. I also had the customer call me and thank me for that. The good times are coming to a end for storm claims. Need to have a good retail base and not just focus on storms. Be respectful, you won't change an Adjustors mind and don't do their job for them. Be honest and give every job to the Lord.

@WeFindSimpleSolutions

9 күн бұрын

I agree

@beewjor8533

7 күн бұрын

Same here I agree…standards are literally all across the board when the insurance actually gets involved and on both sides of the deal sometimes

Premium is based on zip code, not how many claims you filed. The more storms in your zip code the higher the rates. Even if you didn’t file a single claim your rates will go up due to this fact.

@troythompsonelp

9 күн бұрын

🤣

@toddhall7539

9 күн бұрын

True. Rates go up despite claim history. Or lack thereof…

@BoostedIntegra

8 күн бұрын

True for "act of god" claims but not for others. Premiums can be affected by unpaid claims too

He’s right there are Billions in vandalism. There are tens of billions in legitimate unpaid claims as well. Both sides are at fault in this mess. Guys used to chase real storms and work legit hail. Now the industry has a massive amount of companies that want to sit at home and force claims rather than either pivot with some retail or pack bags and go work real claims away from home. It’s a cycle from both sides being unscrupulous.

@joethomas4994

9 күн бұрын

Your on point sir!!!!

@farenzena796

7 күн бұрын

Agreed. Vandalism should be prosecuted as should insurance fraud by the carriers (state farm) for not covering obvious damage

@patrick4sondra

6 күн бұрын

NAILED IT!!

i agree, insurance companies make billions in profit each year so ppl shouldn't feel bad for filing a claim, if you pay your premiums and you have storm damage of course you should file a claim, if your insurance company hates when ppl file their claims then they need to shut down and find another line of work.

@troythompsonelp

9 күн бұрын

And that is why rates are doubling every few years. Soon (if not already for some) it will be unaffordable. Insurance companies are not in the business to lose money.

I haven’t seen much of that in Minnesota. Up here we’ve had adjusters bring their drones out and using AI program to look at the damage on a roof. Apparently the AI program can differentiate between a blister vandalism or actual hail.

So this guy from Pinnacle has got a skewed view. The statement about being self insured and not replacing your own turtle vent with a ding in it is not realistic. The contract states that if a Loss occurs and there is no endorsement stating otherwise, proper documentation and notice was given, the insurer is obligated to replace it and restore them to pre-loss condition. This is THE AGREEMENT. Feelings and profit of the insurance companies, etc isn’t relevant. The insured is enforcing the agreement and is usually experiencing unnecessary difficulty when doing so, this IS WHERE ther PA and appraisals are necessary to force the insurance companies to pay what they owe. Is there dishonesty, yes, but as an adjuster and homeowner who sees this everyday in Texas, I am appalled at the overall treatment of the insured by the insurance companies. Thanks for having him on the show, but there is a LOT wrong with the system. It needs to change at the State level with the policies and how they’re written and enforced. Insurance companies are certainly profitable and most of this is at the expense of the insured. I do agree with a lot of his points, but there is a lot of bias as well.

@troythompsonelp

9 күн бұрын

It's not about feelings it's about math. And math is relevant because rates will continue to skyrocket until insurance companies are profitable again. Policy language is changing, as well as state regulations, and wind/hail deductibles. The jig is up.

@Condorlandor

9 күн бұрын

I think that as the industry is squeezed in on by these changes, the scamers will be forced out and the true good roofers will continue to thrive and adapt

@ToddBizCoach

7 күн бұрын

Pinnacle guy is using common sense. Homeowners and auto owners making claims for small amounts will raise your premiums.

I've always viewed insurance as gambling. The carrier is like the casino... And we all know that the "house" always wins, even if the occasional patron hits the 'jackpot'. If insurance has gotten itself into this bind, it is because they did not adjust their systems when they should have, and now are forcing the 'gamblers' to pay more to play the game, and with worse odds of winning to boot.

@watertiteman

4 күн бұрын

It is for this reason, as well as many others similar to this across all industries, nations, etc. that the system is soon to collapse. THEY NEED IT TO.

@watertiteman

4 күн бұрын

Troy hit the nail on the head: "The jig is up."

State Farm makes 65 billion and pays out 5 billion. That got him squirming.

@ToddBizCoach

7 күн бұрын

That’s BS regarding State Farm net income. In 2022 they reported a loss of $6.7 billion vs a gain of $1.3 billion in 2021.

@farenzena796

7 күн бұрын

​@@ToddBizCoachbased on reserve estimates. Hiring unqualified adjusters to deny claims could effect what reserve gets set especially since they im sure don't understand the concept. See my comment on your comment. $110 per policy for the whole year at most, was probably closer to $20 when the variables are factored in

@ToddBizCoach

7 күн бұрын

@@farenzena796 it’s not based on reserve estimates. The numbers are as reported in SEC annual profit loss statement. The bottom line is insurance companies need to do what they need to do to protect shareholder interests. That may include not paying out what they consider frivolous or over valued estimates by roofers.

@ToddBizCoach

7 күн бұрын

State Farm had an underwriting loss of 14.1 billion in 2023 and 13.2 billion underwriting loss in 2022.

Синьо-жовтий восьминіг! Круто, Glory to Ukraine 🇺🇦 🙌 ❤

I read all the comments. I didn’t want to get on here and bash the guy but I feel like he’s regurgitating a bunch of the false statements about insurance claims and premiums. And when you mentioned some facts he agreed that he didn’t know much. Don’t repeat things unless you 100% know it to be true

Dmitry stop throwing out numbers you are not sure of. Your numbers are way off. If you want accurate numbers come with receipts and interview insurance company executive. Plus, learn more about responsibilities of publicly traded companies to shareholders.

@farenzena796

7 күн бұрын

Why dont instead of criticizing you bring the receipt. What do you think the numbers are? I'll give you real #'s: state farm put out a propaganda piece last year stating that in 2022 they had over a billion more in claims than 2021 and provided the #'s per state. Not even factoring in 2021 was covid and no one was knocking doors and you couldn't get material, state farm paid an average of $110 per policy for hail that year.....and they asked for sympathy. That's not even factoring in you know they included the deductibles as claims (1% coverage A typically), they counted depreciation they did not pay for the repairs they wrote that wernt done, nor is that accounting for any HOA's or large metal buildings which could be 7 figures all on their own.

This guy is may be an agent BUT that does NOT make him an authority on the insurance industry Carriers RAKE in cash and pay out Pennies 2 biggest scams going - insurance - banking Let’s get real

This guy is full of shit! There’s no way insurance carriers are paying 80-90 percent of premiums in claims….

@Condorlandor

9 күн бұрын

He seems to be full of shit in regards to every topic they discussed 😂