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So I am kinda hijacking my own thread, and I know this has been discussed on this forum in the past, but talk to me like I am a 5th grader. I own a home that is 18 years old. I have homeowners insurance. I see many people on my street getting new roofs. At least a handful have shared that they had their insurance pay for it. Am I totally off base here, but if I were to submit a claim to my insurance to replace an 18 year old roof...wouldn't they drop me as a customer the next time my insurance has to be renewed? Or would they just raise my rates? What am I missing here?
Go clean your room and finish your homework!
I think they are feeding you BS. Most insurers quit replacing 20 year old roofs a long time ago. They will pro-rate the roof's life expectancy and cover the expected years remaining. And they aren't going to cover degradation due to age. You're going to need specific damage from a specific event. You're chances might go way up if you can wait til after a hurricane hits.
I don't know anyone who has had coverage dropped and been unable to get alternative coverage but you can definitely expect a rate increase for a few years. But if you can get a $15k roof claim approved it will be a long time before you are back in the red.
So I am kinda hijacking my own thread, and I know this has been discussed on this forum in the past, but talk to me like I am a 5th grader. I own a home that is 18 years old. I have homeowners insurance. I see many people on my street getting new roofs. At least a handful have shared that they had their insurance pay for it. Am I totally off base here, but if I were to submit a claim to my insurance to replace an 18 year old roof...wouldn't they drop me as a customer the next time my insurance has to be renewed? Or would they just raise my rates? What am I missing here?
You are missing nothing. I know of nobody that has gotten dropped that has done this. I also don't know of anyone that has had their rates raised more than anybody else's is.
It's incredibly frustrating. I personally am tired of paying for other peoples' home maintenance. When I bought my house with a 20 year old roof on it, I knew I'd have to replace it - using my own money, not everyone else's.
Those who are as frustrated as I am with socialized home maintenance, should contact both their insurance companies as well as the NC Bureau of Insurance. The insurance companies will claim that they are just as frustrated as you are, and that they can't do anything about it because permits are not required for new roofs, which means they can't prove the age of a roof. I personally think this is a load of BS.
I called the NC Bureau of Insurance and was basically just sent to my insurance company. So you will get nowhere, but the more people that complain about it, the better.
Hail and wind happen and are legitimate claims, but roofs should be prorated based on their age. The purpose of insurance is not to pay for others' routine maintenance. There is no reason that this can't happen, the insurance companies just don't care. They will make their money either way, so it's up to the consumer to make a stink about it.
I think they are feeding you BS. Most insurers quit replacing 20 year old roofs a long time ago. They will pro-rate the roof's life expectancy and cover the expected years remaining.
This is most definitely not true.
Not sure where you live (haven't seen you in this forum), but it's not the case in the region that this regional forum covers.
You won't get dropped but you won't get insurance with another carrier for putting in the claim.
Not every insurer is paying for new roofs no questions asked.
Not every new roof you see is being replaced through insurance (mine wasn't - see above about getting dropped).
Yeah.
Just had one on NextDoor, "just a small claim and we were CANCELED!"
Oh, yeah... Got the FREEEEE insurance scam roof about 18 months ago. I have a brain wave that that set the table, just waiting for one more scoop from the trough.
I think they are feeding you BS. Most insurers quit replacing 20 year old roofs a long time ago. They will pro-rate the roof's life expectancy and cover the expected years remaining. And they aren't going to cover degradation due to age. You're going to need specific damage from a specific event. You're chances might go way up if you can wait til after a hurricane hits.
I don't know anyone who has had coverage dropped and been unable to get alternative coverage but you can definitely expect a rate increase for a few years. But if you can get a $15k roof claim approved it will be a long time before you are back in the red.
None of the homes in my area are 20+ years old. Average age might have been 14-16 years when most of the roofs were replaced. The majority just had to pay their deductible. These were people that had my carrier or another top one. A couple neighbors had different insurance carriers and they were either denied or like you stated above had their claim approved for a prorated amount based upon age of roof. One neighbor even had leaks and was still denied so he just paid out of pocket for a brand new roof. So I think it really depends upon the carrier.
And I too share the same concerns that North Raleigh Guy does. The roof companies tried to tell us that we had damage from a couple of the hail storms and even showed us a map of the storm and pictures from a drone that we did not authorize to check our roof. We haven't had any issues with our roof so we didn't feel comfortable moving forward especially with some of these shady roofers. I haven't heard anyone being dropped by their carrier but don't know if their rates went up more than what mine have for never ever having filed a claim.
My father has the same carrier as I do and he has submitted multiple claims and has never had an issue. They came out quickly and the funds/work was completed promptly. I don't know if his insurance premiums have gone up drastically or not but this is a man that complains about the price per pound on bananas going up and will refuse to buy them. In fact that's all he likes to really talk about is how high his power bill went up, etc etc. So if his insurance premium went up a lot Im sure I would have heard about it by now.
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