Roof Talks: For Roof Warranties, It’s All About the Guarantee
Any building owner wants a guarantee on the performance of roof repairs. They also desire warranties on the management of a long-range asset, their budget, and transferrable solutions that deliver a higher property value. However, they don’t always get these guarantees. Why? On today’s episode of Roof Talks, President and CEO of Fortis Warranty, Rick Lewis, explains the company’s new approach to roof warranties.
“Customers are interested in a roof that performs, which means to them keeping water out of the building. They also ask the question, ‘What can I do to reduce costs and minimize the money spent on a high performing roof,'” Lewis said.
With over 25 years in the industry, Lewis has a unique perspective on the importance of roof repair guarantees. As a former contractor, Lewis has felt first hand how this impacts their work. “[…]I understand how the industry works from their perspective and how the material side of the industry works. I know what is important to the buyer. What makes us different is the guarantee,” he said.
The Fortis guarantee is unlike anything in the industry, and the company prides itself on it. “The rubber meets the road with the guarantee. Most of the industry avoids the guarantee and are risk-averse. If they offer a guarantee, it’s pretty narrow in scope; an exclusionary document written in favor of the company writing it versus benefiting the customer. We believe in what we do and our process that we offer the industry’s most comprehensive guarantee,” Lewis said.
However, he noted it’s an uphill battle trying to change an established industry. “Even with all the metrics and data we have, we’re still swimming against the tide of an old industry paradigm. No matter how good the idea is, it’s hard to turn the tide. We persuade others with the science and math. They are fact,” Lewis said.
“We back it up with a lot of data, including our historical metrics and then describe the underwriting process. We also provide industry third-party research that shows that many roofs have a remaining performance life.”
Give this podcast a listen to learn about the Fortis difference and guarantee and how it’s been able to extend the life of roofs and ensure greater value for the property.
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