In the ever-evolving landscape of construction and home improvement, regulations play a crucial role in ensuring the safety and integrity of structures. As of November 1, 2022, a new roofing law, House Bill 1940, has been passed and placed into effect to prohibit roofing contractors from waiving or paying homeowner’s insurance deductibles. This ultimately will protect consumers from being taken advantage of, by unruly roofing companies.

Effects on the Roofing Industry

First and foremost, for you as a homeowner, this new law doesn’t make much of a change for you, other than the necessity to begin saving now for your roof replacement or repair. As for the roofing companies in Oklahoma, it could have a huge impact. Financially, there have been many roofing companies struggling since the COVID-19 pandemic, and this new law could worsen those effects. You may begin to see a fluctuation of roofing company closures within the next few years. 

Consumer Protection

Depending on your insurance policy, your insurance deductible can range anywhere from $500- $5,000. Oklahoma isn’t the first state to pass such a law, with similar laws in Florida and Texas. How does this law protect you? In recent years, there has been a surge in out-of-town contractors who would arrive after a storm, then offering to waive or pay for a homeowner’s deductible. Although this sounds great, these contractors would then inflate the bills being sent to the insurance company to cover the deductible, therefore participating in insurance fraud. 

How to Go About Roofing Repairs/ Replacements

Communication is so important. You will want to make sure that you have selected a reputable roofing contractor, who is honest and good at their work. You also will want to have conversations with your insurance company, so that you are fully aware of what is covered in your policy and the amount you are obligated to pay, for your deductible. We always want to help our clients understand the projects at hand, and being financially prepared for roofing or other costly home repairs is the first important step.

Questions to Ask your Insurance Company

• What is covered in my policy? 
• What is my deductible for roofing repairs or replacement? 
• How much coverage is provided for my personal property?
• Are my contents insured for replacement cost or cash value?
• Is my house insured for replacement cost or actual cash value?

Being on the same page as your roofing contractor, as well as your insurance company will ensure a smoother process in roofing repairs or replacements. With this new law, there are lots of changes and these conversations are essential for correct expectations to be set. At Bailey’s we are here for you! We don’t cover or waive deductible costs, but we do offer financial assistance. 

Our licensed professionals at Bailey’s are readily available to tackle any project. If you need any type of home work done such as roofing or windows or you just want an estimate, contact Bailey’s Roofing in Ada and Sulphur, Oklahoma, at (405) 343-8847 today! Don’t forget to follow us on Facebook for more information.