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Old 10-16-2016, 06:26 PM
 
4 posts, read 2,665 times
Reputation: 10

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Hello everyone!
The roof of my house was damaged by hail. The insurance company (Progressive) covers only a small portion for the roof replacement. They depreciated it as it's more than 10 years old. I wonder if there are any insurance companies that offer 100% coverage for old roofs ???
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Old 10-17-2016, 09:06 AM
 
253 posts, read 394,151 times
Reputation: 350
Quote:
Originally Posted by Kara80 View Post
Hello everyone!
The roof of my house was damaged by hail. The insurance company (Progressive) covers only a small portion for the roof replacement. They depreciated it as it's more than 10 years old. I wonder if there are any insurance companies that offer 100% coverage for old roofs ???

All insurance companies are different and offer a variety of coverage. I have been in the property and casualty business for a while.

It's not that your insurance only covered a small portion; your insurance company was only obligated to pay the actual cash value after depreciating it by the 10 years. The language was in your policy. (Always read your auto and homeowners policies.)

Sounds like you are looking for full replacement cost? That will be hard to find, but you can shop around for it.
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Old 10-17-2016, 02:06 PM
 
4 posts, read 2,665 times
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Yep, I am looking for a full replacement cost for the original (year 2001) roof. That would be great if somebody helped me to find out the insurance companies that offer such policies.
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Old 10-17-2016, 02:14 PM
 
Location: WI
3,961 posts, read 11,020,253 times
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OP, there should be companies out there that can cover 15-20 years on a new roof (ours will), but that's likely a moot point on your situation as you already noted you have hail damage. Now you may be able to find full replacement coverage once it is replaced (if that's the case) but i doubt you will find it to be covered now if you switch. I'm sure there would be a period before coverage could take place unless it was inspected (seeing as we just had a bad hail storm recently).
Just my .02 of course.

I would think any of the online insurance buying sites can steer you in the right direction.
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Old 10-18-2016, 08:29 AM
 
253 posts, read 394,151 times
Reputation: 350
Also to clarify, the event of the hail damage has already occurred to your roof. It would be considered pre-existing/prior damage. This can count against you if you attempt to switch insurance companies before repairing the damage first.

At this point, you will have to accept what your insurance is offering and pay the rest out of pocket. After the work on the new roof is complete as Ranger stated, you will be in a better position to shop around for full replacement coverage. Make sure you have a good warranty on the workmanship and materials too.
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Old 10-19-2016, 11:38 AM
 
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Thank you, guys! I don't know if there's any sense in getting an insurance with full replacement coverage after we pay out-of-pocket for a new roof... The roof less than 10 years old will be covered anyway.
Now I'm searching for a reliable roofing contractor. Did anybody have any experience with Apexteriors/Apex General Contracting? Their main office is in South Beloit, Il and they have 2 locations in Madison area.
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Old 02-08-2017, 01:17 PM
 
4 posts, read 2,614 times
Reputation: 10
Quote:
Originally Posted by Kara80 View Post
Thank you, guys! I don't know if there's any sense in getting an insurance with full replacement coverage after we pay out-of-pocket for a new roof... The roof less than 10 years old will be covered anyway.
Now I'm searching for a reliable roofing contractor. Did anybody have any experience with Apexteriors/Apex General Contracting? Their main office is in South Beloit, Il and they have 2 locations in Madison area.
We're changed our roof and siding last December. Our insurance cover all, total around $30,000
You need to chose the experience contractor that known how to deal with insurance company.
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