Okay bros - Oil Prices & Energy Stocks - time to buy?

The way you explain it makes it sound an awful lot like the contractor and insurance adjuster are in bed together.

1) Contractors don't typically deal directly with insurance companies until you as the homeowner have gone through the claim process and it's time to get a cost estimate.
2) You make it sound like you just called this guy up whenever you felt like it and had him pretend their was wind damage from a storm. This is definitely fraud.
3) $12k to fix some shingles on a roof? How big/weird is your roof dude? That price tag is absurd and screams fraud. That's what I might expect to pay if I had to rip everything off, put new plywood down, and re-shingle the entire roof. And even then it still sounds high. It sure as shit isn't the kind of price I'd expect to fix some wind damage. AKA contractor and adjuster are splitting extra profits.
4) Most insurance adjusters work for independent companies and are hired out by the insurance companies and this kind of thing happens ALL the time.
5) $600 for a shingle upgrade on a $12k job? Hrmm.....

Astral Projection_sl said:

One thing about roofs - you can get it done with insurance, at least in Florida. Basically:

- roof company inspector comes out
- he finds wind damage
- correlates to when a storm hit
- clears with insurance inspector
- insurance pays for roof

My roof was a $12,000 job but I got it for just a $500 deductible. Also paid an extra $600 for upgrade to architectural shingles.

Click to expand...

You can get lucky but that isn't the case most of the time.

First, when you have a shit roof that needs repair you generally have small leaks and such that cause a much different kind of damage than when you have a windstorm and sudden intrusion. So when the adjuster comes out and takes a look it usually is really obvious when there is neglect andyou just sat on a shit roof for an extra 5 years waiting for a storm. Not covered.

Now if you're in year 18-22 of a 20 year roof and it's due to be change but get lucky and a CAT 2 takes out most of the shingles then yeah you lucked out on the insurance money game. You can even upgrade like you did and the cost is pretty minimal. Although these days 2% of insured value is far likely on your deductible. There are still some $500 policies but that isn't the norm and very rare. Still a good deal but a lucky one. We can go decades without major storms and a small thunderstorm isn't very likely to net you enough damage for a full redo.

Most people don't fall into that and you can't really expect storms to net you a new roof. Sometimes you get lucky, most of the time you pay out of pocket.

I called mine after a hail storm and said check my roof and a claims inspector from the company did and it was full replacement. It seemed solely up to 1 rep from insurance company so prob huge luck of the draw.

Oil closed above $50/brl for the first time in a while, had got down to $26/brl back in February. OPEC met last week and they voted not to reduce output. Lot of talk swirling around OPEC having lost their ability to steer the market now.

OPEC is not in downfall though. Their decision not to cut production basically killed oil and gas drilling in the United States and the share of world oil coming from the middle east is rising. World energy markets are going to find themselves in a scary situation in a few years with so much oil production coming from the volatile Middle East.

Middle East Share of World Oil Production Highest since 1975: IEA - Oil Gas 360

An updated analysis from the International Energy Agency (IEA) has determined that the current oil price environment has boosted the share of oil produced in the Middle East. At 31 million barrels per day, the region now accounts for 35% of global oil supplies, the highest level since 1975, according to data from the IEA.

Click to expand...