Got a letter and discussed with broker but essentially company is

Quote:

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"unhappy insuring your roof with its current condition, in order to renew your policy they either want for you to replace your roof entirely or endorse their "actual cash value" option for the roof which means it is not covered at Replacement Cost."

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Roof seems find to me. No issues. Never heard any notes of deterioration over the years from insurance companies.

Options I see:
1. Replace roof - unnecessary at this point.
2. Find new insurance
3. endorse their "Actual Cash Value" option.

Are there any other options here?

I'll also add. I talked to a broker the other day. I asked that, if this damage was sudden, wouldn't this have been caused by a storm and likely covered?

Me (and the broker) have not heard what the "damage" is to the roof or any specific details about the roof and as to why this is being cancelled. But again, just wanted to get some opinions here.

Thanks in advnace!

How old is the roof/what's the reason they can't insure it? Have to know that before you can really make any kind of educated decision.

I assume your insur.co has on file the last roof redo. If not, drag up the paperwork to get them more cooperative. I just got a reduced rate b/c I had not informed them the roof had been redone recently.

For zero to $100, your local 5-star rated roofer co will write up an assessment of your roof to use at this or new insurance co, then also replacement/fix cost projection. They may even advise you which option to take.

As for me,
I would replace/fix roof ....
then shop a new insur.co. in case there's a good reason to suspect a bad roof risk, even if only on spreadsheets as "odds".

I would replace the insur.co for lack of help, reasoning and cooperation, not to mention cold shoulder tactics.

I would avoid companies that spend too much on many irritating TV ads, as I have seen the Spartan services one gets thereafter. Many prefer an agent that offers many companies for insurance options so as to get a good fit to your needs.

DO NOT SIGN ACV. This will do them a huge favor and hose you. This is how you end up with a legit hail claim, a 20,000 dollar roof and a 4,000 dollar check from the carrier with you holding the bag for the rest. Not cool, to say the least.

There is a possibility that the previous owner filed a claim, got paid, and then didn't replace the roof which would create a flag on the database for it.

Either way, they need specifics on why it's not being approved. I would compel them to send photos or proof of the issue. I don't take an insurance inspectors word for this kind of thing. It's not that they are being malicious, but some simply don't know what they are looking at. As stated, as tgivaughn said, a roofer can inspect that on your behalf and tell you what's what. I have done this many times. I provide these for buyers, sellers, insurance carriers, etc. It's totally off the record between me and the customer unless the roof is actually is acceptable condition then I can and will provide a report stating that fact and sign off on it. That doesn't mean they will accept it but if it's good, it's good. If it's not, then the only person that will know is you and then you can do with that info as you wish.

Where are you located? Are you in Texas?

It's possible the damage is recent, but the damage is only paid for and covered by the person who was insured during that time. There are stipulations on timeframes for claiming that though. If you send me the address, and you have been the insured, I can at least give you an idea if it's possible there is damage from hail maps that they are keying in on.

Again, do not sign off on ACV. You don't know how they are depreciating it.

My contact is in my profile if you want to call and discuss. It's free to talk and we can go into other detail. I'm happy to give any advice or insight I have. Zero obligation. Ag to Ag.

You have a couple of options here but there are a lot of variables that you need to know before navigating the proper course. There are actually instances in which ACV might be ok if you address it quickly but there is a risk with that. Not knowing any other details I couldn't advise.

I'm in Southeast Houston and I'm hearing about a bunch of companies refusing to write for roofs that are around 15 years old.

It's certainly the message I'm getting.

That's likely going to be a lot more prevalent in the coming months and years. It's always been a thing for some carriers depending on who wrote the policy. It's imperative that everyone get their renewals and read the policy before signing up on it. They slip these things in and rarely do folks do anything more than sign it. I'm even guilty of it. Seriously, I'm a roofer, and several years ago, I signed up for ACV on mine because they changed it and I signed on the line. I had it changed and gave them an earful, but it was still my fault. Folks don't even know what they agreed to until they make a roof claim.

email sent.

Email replied!

This is one of those things where everyone blames the insurance companies. And don't get me wrong, they deserve a lot of the blame.

But roofers, and even homeowners, deserve some blame as well..... Get a quote for a roof you're paying for, then get a quote for a roof insurance is paying for. Likely to be 50+% higher.

Also, we've had posters on this site say things like if you don't have insurance replace your roof every 5 years you aren't trying hard enough. Granted they are in north Texas where hail storms are common.

But, someone is paying for that. And it isn't the insurance company. They aren't just going to absorb crazy over inflated roof prices and replacements every few years. That will get passed down to the consumer in higher premiums and reduced coverage.....

htxag09 said:

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Also, we've had posters on this site say things like if you don't have insurance replace your roof every 5 years you aren't trying hard enough. Granted they are in north Texas where hail storms are common.

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Worked for a startup synthetic roofing manufacturer several years ago. We got a ton of traction in the northeast and front range of Colorado. Next to none in Texas.

Texans treat their roofs and toilet paper pretty similarly. (Not that it's the wrong way to do it, to each his own). It's a very insurance paid, frequent replacement driven market.

Sims said:

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htxag09 said:

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Also, we've had posters on this site say things like if you don't have insurance replace your roof every 5 years you aren't trying hard enough. Granted they are in north Texas where hail storms are common.

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Worked for a startup synthetic roofing manufacturer several years ago. We got a ton of traction in the northeast and front range of Colorado. Next to none in Texas.

Texans treat their roofs and toilet paper pretty similarly. (Not that it's the wrong way to do it, to each his own). It's a very insurance paid, frequent replacement driven market.

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I can tell you this much... If the insurance company is going to force me to replace my roof every 15 years, I'm not going to invest in a roof that is likely to last much longer than 15 years.

Financially, it doesn't make sense to install standing seam on my house (too expensive for the house) but I would gladly spend extra money on impact rated shingles or some system that was resistant to hail. The problem is that I'm going to pay the same premiums, no matter what I put up there.

Its not surprising at all that when the problem is "roofers and policy holders are taking advantage of replacement policies", the solution (charge everyone more, whether they cause the problem or not) is the one that happens to make insurance companies way more money. In reality, I would be amazed if people taking advantage of roof replacement policies and roofing companies charging too much actually caused this rather than the way more likely scenario of insurance companies finding a way to make more money by forcing people to pay to replace their roofs themselves way before they are actually worn out.

IF the problem is actually roofers charging too much and homeowners taking advantage, then the solution could be 3rd party certified inspectors to advocate for customers and affiliate agreements between roofers and insurance companies. I'm certain that there are solutions that don't involve costing homeowners way more money out of pocket and making insurance companies way more money.

What's your location…what insco…new policy or renewal?

I'd have them send an inspector out, and if you don't agree with his findings, have Jason come out.

It's all about age of the roof. I'm an indepenent agent and my roof is 21 years old. Never leaked, never had a problem, but my insurance is high. If I were to get a new roof my premium would be cut in half. I just don't want to pay $30,000 right now for a roof that is OK.