OH HAIL NO!

Hail has been an issue all summer and so have the storm-chasing fake hail damage repair companies waiting to take advantage of you.

Don't be so quick to hire a contractor that you end up worse off than you were before. Always check with The Better Business Bureau to see if the company you want to do business with is listed favorably.  

Whether you are dealing with hail damage to your auto or your home, the same advice holds true: 

Check References. 

Repair companies should be able to provide the names and addresses of three previous clients. Check out your rights under The Consumer Protection/Roofing Bill from the Colorado Roofing Association.  

Get at Least 3 bids.

Don't fall into the trap of a low-sounding bid or a recommendation from your friend. Getting three bids on the front end is far less time-consuming and costly than trying to remedy poor workmanship on the back end. 

Signs of Insurance Fraud.

A contractor is offering to pay an insurance deductible.

• Don't let anyone convince you to agree to an inflated price with the promise that the contractor will overbill your insurance company to get enough money back to reimburse you for your deductible. That's insurance fraud.

Payment/Contracts.

• Insist on a written contract before work is performed and request a detailed, written estimate.
• Do not pay in cash. If possible, pay by credit card. That way charges can be disputed.
• Do not pay more than 10 percent of the job's total or more than $1,000 as a down payment. Roofing scammers will take the money and run.
• Do not pay upfront. Pay in increments as the work is completed.
• Always get documentation of the completed work, warranty of the product, and a copy of payment to be filed to the insurance company.
• Make sure the car repair shop is fully licensed and insured. If you are considering dent-less repair, be extra diligent. It is not unusual to see dent repair shops hiring untrained technicians to do the job.  

Scammers Use AIs’ Appeal to Steal Money from Investors 

Reports show an increase in investment scams that claim to use AI to make money for investors. Like many too-good-to-be-true investments, scammers are the winners. AI can be used to create people who don’t really exist. In one example, a “crypto investment platform” created a YouTube video in which its “CEO” touted the company to prospective investors. This was a hoax; the individual was not the company’s CEO, but a fictitious avatar programmed using AI to recite a script. AI can even clone voices. If you receive a phone call from someone who sounds like a friend or family member talking up an investment opportunity, hang up. Call your friend directly to determine if it was they who made the call. 

PROTECT YOURSELF

• Remember, scammers lie (about everything). If you think you won’t fall for an investment scam, remember Bernie Madoff’s clients were smart, educated, wealthy, and experienced in huge investment opportunities. 

• Be cautious about investment platforms that claim to use AI to generate returns for investors. 

• Don't trust an investment opportunity that is promoted on YouTube.

• If you receive an investment “opportunity” that asks you to recruit new investors, it may be a Ponzi scheme.

• Watch out for investments that promise high returns with little risk – if it seems too good to be true, it usually is.

DUE DILIGENCE

• Be wary when an opportunity claims to guarantee or protect your capital while promising high returns.
• Look up the company track records. 
• Is the entity regulated?
• Don’t accept any unsolicited offers.
• Don’t believe promises. No one can guarantee you’ll make lots of money with little to no risk. Anyone who does is a scammer.
• Steer clear of high-pressure sales tactics.
• Search online for the name of the company and the person selling to you, plus “review,” “complaint,” or “scam.”