Our insurance company already insured us, then there inspector came out and said we had to put a new roof on, there was no problems no leaks or anything. Now all of a sudden we have to fork out $2,000 that we don't have to keep our insurance.
2007-05-29 05:16:13 · 6 answers · asked by Tanya W 1 in Business & Finance ➔ Insurance
No, but if you don't, they don't HAVE to keep giving you insurance for the house.
What's your definition of "life left in it"? Sounds like, "no leaks". Well, the insurance company wants you to MAINTAIN the house, so the claim doesn't happen! You want to wait until AFTER the claim to fix it??
Even without leaks, if the shingles are curling, or some are missing, that's a sign that you need a new roof. Don't believe the inspector? Get a home inspector out there for just a roof inspection, or get a couple roofers out there to give you their opinions.
2007-05-29 05:34:58 · answer #1 · answered by Anonymous 7 · 1⤊ 0⤋
Back in my insurance days, I inspected many roofs; usually an Asphalt roof has a life expectancy of 10 - 25 years depending on the color, location, type of shingles.. yada yada. Anyway, when a new policy is issued, the insurer wants to make sure the roof isn't on it's last legs, that way it won't get blown off when the first wind storm comes along. In most states, there is a 60 - 90 day underwriting window where a property underwriter can evaluate a new risk and decide to keep the risk or cancel the policy. If you're outside this window, they've missed their chance to flat cancel, they'll need to non-renew based on the state insurance laws (24 months in Ohio on a new policy).
Remember, insurance is for unforeseen events not maintenance; when a roof needs replacing, weather damage is a predictable event.
2007-05-29 05:54:28 · answer #2 · answered by Anonymous · 1⤊ 0⤋
The insurer is making sure that you maintain the property correctly. If you need a new roof and do not install one, who will be called for coverage of the resulting water damage when the roof starts to leak ?
Your options are to replace the roof as required, or shop around for different insurance coverage from a firm which might not have the same requirements.
2007-05-29 05:54:59 · answer #3 · answered by acermill 7 · 1⤊ 0⤋
The insurance company can't make you do anything, but the home appraiser's report is looked at as very important. If he or she found that your home is a higher risk because of an older roof, the carrier may select to "non-renew" your policy at the expiration date, if you have not addressed the roof. They will give you notice well in advance of their intention to non-renew or drop your policy.
Good luck
2007-05-31 23:24:44 · answer #4 · answered by MaddyRO 1 · 0⤊ 0⤋
I know they can on a new home purchase. You might be better off to call the agent that gave you the insurance and talk to them. There may be some clause in your policy that says you must.
2007-05-29 05:24:44 · answer #5 · answered by Barbie 3 · 1⤊ 0⤋
Huh?? If they want you to have a new roof they have to pay for it.....that's what insurance is for.
2007-05-29 05:25:02 · answer #6 · answered by Anonymous · 0⤊ 3⤋