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Thread: Roof age and insurance

  1. #11
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    The last few years, wind and hail damage and roof replacement claims has taken a big chunk out of the insurance companies profits. Farmers is raising rates on home premiums and also increasing the deductible amount for wind and hail. the 15 year mark is a big number for them, because they know there will be a $6,000 - $10,000 claim soon.
    Kevin - APInsurance - Insurance Marketing



  2. #12
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    The claims for hail damage caps are growing. If you live in an area where you can get the form of granules of large size can cause damage to the roof, you want to know how and when to submit an insurance claim for damages.

  3. #13
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    I work as a Roofing Contractor and Iíve received calls for three roofs that have been torn by high winds. Is it possible to get insurance cover for these cases?

  4. #14
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    It's not gonna pay off, if he repair the roof and then hire the same insurance... Maybe there is a policy that provide that type of insurance. I mean it's a 16 years old, and they cover till 15 , so they could extend a 1 year...

  5. #15
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    there will be insurance according to the condition of your building but if you can live there in safety

  6. #16
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    It differs by insurance company. Furthermore, it differs based on the type of roof. For example, some insurance companies will not insurance tar and gravel roofs older than 15 years, ashpalt shingles older than 20 years, etc. If you have a more durable type roofing like metal tile or clay tile, they probably will still accept the risk. In the meantime, you could probably get the insurance company to accept your insurance application still, but they may make you sign and endorsement acknowledging that they will limit coverage for damages to contents as a result of roof leak and also limit the coverage for the roof to actual cash value, which means "depreciated" cost.

    InsuranceBOB

  7. #17
    Senior Member Level 1 marindependent's Avatar
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    Really what matters more than the age of the roof is the Type of the Roof for Home Insurance. Some carriers that have a restriction as to the age of the roof will make exceptions if it is a longer lasting roof.

    Some roofs barely last half of the 15 years that you reference. And Some last three times as long.

  8. #18
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    Quote Originally Posted by markspencer View Post
    The claims for hail damage caps are growing. If you live in an area where you can get the form of granules of large size can cause damage to the roof, you want to know how and when to submit an insurance claim for damages.
    My insurance company (Pekin) paid almost $20K to have my roof, gutters, and some siding replaced due to hail damage. My roof was about 15 years old. I was amazed and greatly pleased.
    Last edited by xrac; 09-06-2016 at 04:51 PM.
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  9. #19
    Senior Member Level 1 marindependent's Avatar
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    Amazing really how expensive roofs are these days.

  10. #20
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    Mine included the roof on an out building approximately 25x25 plus tearing off two layers of roofing.
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