Roof and insurance

[Philipd411]

I keep hearing about insurance rates going up once you roof is 7 years old or older. Are people having this issue or is it just rumor's?

[Dana1963]

I keep hearing about insurance rates going up once you roof is 7 years old or older. Are people having this issue or is it just rumor's?
My policy just renewed roof 10 years old premium went up $30 normal increase previous years still under $550 annually.

[Carla B]

Don't know about being penalized for age in the premium, but In 2014, our roof, like many others, was replaced by Owens Corning at six years old. I never thought to inform the insurer until last year when the roof mania started. Didn't get any credit.

[SIRE1]

I'm not sure about the 7 years or older, but I do know that the insurance company requires you to replace your roof around 15 - 20 years, regardless how many years your shingles are rated. I learned this the hard way. In 2019, it seemed like everyone was getting their roofs replaced with the insurance company picking up the tab. We weren't ready so I waited. In Nov 2020 we got a notification from our insurance company that they would NOT renew our policy unless we replaced our roof (which at that point was 19 years old) and they would not pay for it. We had it replaced in Jan 2021 in time for the policy renewal. Plus, the new policy has a clause that the insurance coverage for replacement due to storm damage is now pro rated each year as it gets older. So just be aware. The insurance companies will require replacement and I suspect that every time your policy is up for renewal, there will be a clause that reduces the replacement coverage as the roof ages.

[Decadeofdave]

Just replaced my 16 yo roof. 2 inspections said I could get another 4 years. I inspected it, a lot of wear on the ridge caps. Renewal on insurance after new roof, policy rate down $343.00/ year.

[daniel200]

My roof is 17 years old. I changed insurance companies 3 years ago without problem. I have now had the same policy for 3 years at very reasonable rates with only a very small $17 per year premium increase. My roof is insured for replacement value with a $1000 deductible (or 2% in the case of hurricane)

My advice is to shop insurance companies …. And stay away from the smaller unknown names. I have not experienced any problem with my 17 year old roof. I do have 30 year tiles on the roof.

[Topspinmo]

I keep hearing about insurance rates going up once you roof is 7 years old or older. Are people having this issue or is it just rumor's?

Rates went up from all roofs being replaced. When bunch of scammers defraud insurance out of hundreds of millions they get their lobbyist to grease some politicians and change rules so they don’t take big loss.

I just renewed my policy with 18 year old roof, course the policy went up so I can help pay for all the roofs replacement. Even the insurance agent said if and when I think my roof needs replaced give there inspectors call cause I am paying for everybody else’s roofs. 90% of all roofs in my neighborhood was replaced. Had one of the drive by roof scammer come to my door 6 times cause they can see the three tab shingles driving by. Last 4 times I say no before they opened their mouths.

[buckcpcu]

I keep hearing about insurance rates going up once you roof is 7 years old or older. Are people having this issue or is it just rumor's?

The reason insurance rates are going up in the Villages is directly related to insurance companies paying to replace old roofs with new ones without regard to sound underwriting principles. Insurance is designed to put the insured back to whole not to make a profit. Insurance rates are promulgated on risk not profit, and it’s not a “maintenance “ policy. Lately, companies have ignored taking a deduction for depreciation, which is calculated by the roof replacement cost less a deduction for depreciation as the roof ages. Normally it stops at or around 50% of the replacement cost. Then the homeowner insured is allowed the depreciated amount less the deductible. However , the insurance companies have paid the replacement cost instead which have driven their claims costs through the roof and hurt their profitability.

Now many are not insuring old roofs or going back to paying only the depreciated amount less the deductible and the insured pays the rest. The rates for all homeowners is going up at least 40%. You can also thank the roofing companies. Don’t sign a roofing company request to let them deal with the insurance company because they will come after YOU for what the company won’t pay.

[DaleDivine]

My roof is 17 years old. I changed insurance companies 3 years ago without problem. I have now had the same policy for 3 years at very reasonable rates with only a very small $17 per year premium increase. My roof is insured for replacement value with a $1000 deductible (or 2% in the case of hurricane)

My advice is to shop insurance companies …. And stay away from the smaller unknown names. I have not experienced any problem with my 17 year old roof. I do have 30 year tiles on the roof.

Thanks...
:bigbow:

[skippy05]

Google: Universal Property & Casuality and call them to obtain a quote on insurance. They do not sell directly but call them anyways. They ask very few questions and then forward your call to an agency who will quote you on their policy. They do not make a fuss over the age of your roof. In fact, they ask NO questions at all regarding your roof. This is the best advice you will find on TOTV today!

[westernrider75]

under $550 really? Mine is $950 and my house is brand new. Who do you use?

[Skunky1]

Beware of the unsolicited knock on your door offering to give you a free roof inspection.

[Lynnesail]

My roof is 17 years old. I changed insurance companies 3 years ago without problem. I have now had the same policy for 3 years at very reasonable rates with only a very small $17 per year premium increase. My roof is insured for replacement value with a $1000 deductible (or 2% in the case of hurricane)

My advice is to shop insurance companies …. And stay away from the smaller unknown names. I have not experienced any problem with my 17 year old roof. I do have 30 year tiles on the roof.

Can you share which company you use?

[sowtime444]

My in-laws recently bought a house in The Villages and insurance companies would not give them insurance AT ALL because the roof was "over 10 years old". I found out later that a lot of Villagers had gotten a "free roof" by having a roofer claim the roof had wind damage worthy of a replacement, when in reality the damage might have been only slight, or non-existent. The first people to do this after a storm get a free roof. But everyone in the area is then affected by increasing premiums or inability to get insurance.

[Joe C.]

My roof is original ..... 21 years old, and we have it insured with Farmers ( dut dutta dut dut da). Their car insurance is high, but homeowner's is reasonable, since I don't know who else will insure it with a roof that old.

[sallym7777]

My policy just renewed roof 10 years old premium went up $30 normal increase previous years still under $550 annually.

Dana, do you mind sharing which insurance company you are with? Thank you.

[gego3650]

Rates are going up.I neighbor got letter that will not renew til a new roof installed. It is 17yrs old.Call any agent and will find if you want good Ins it will be 1500. Any quotes I got that were lower were not great coverage and No sink hole other than what they have to cover by law. Which basically is house needs to be condemned or you get nothing.

[eyc234]

Went to the ARC a couple of months ago, after hearing the rumor to ask about getting a metal roof. Life of 50 to 70 years. Was told not allowed except in the historic side as it did not fit the aesthetics of the community. Told them I was not talking about a barn roof but stamped steel or aluminum to look like shingles. They said that I could submit and see, things change.

Well I started to notice in the non historic side of THV and there are a lot of not authorized metal roofs and not just in the area by Lake Miona by Sumter Landing. I have seen them on premier homes by Palmer golf course. How can a metal roof be any more non aesthetic than a roof of pool heater tubes or solar panels? Will keep digging and see what state law says about it.

[tophcfa]

My roof is original ..... 21 years old, and we have it insured with Farmers ( dut dutta dut dut da). Their car insurance is high, but homeowner's is reasonable, since I don't know who else will insure it with a roof that old.

I switched to Farmers last year and just got the renewal premium bill. They bait and switched me, the premium after one year went up 25%. I have owned five homes over the last 35 years and never filed a single homeowners claim, but apparently that doesn’t matter.

[biker1]

How can you be sure they were not authorized? If you get the addresses you can ask your question of the ARC again.

Went to the ARC a couple of months ago, after hearing the rumor to ask about getting a metal roof. Life of 50 to 70 years. Was told not allowed except in the historic side as it did not fit the aesthetics of the community. Told them I was not talking about a barn roof but stamped steel or aluminum to look like shingles. They said that I could submit and see, things change.

Well I started to notice in the non historic side of THV and there are a lot of not authorized metal roofs and not just in the area by Lake Miona by Sumter Landing. I have seen them on premier homes by Palmer golf course. How can a metal roof be any more non aesthetic than a roof of pool heater tubes or solar panels? Will keep digging and see what state law says about it.

[taruffi57]

I keep hearing about insurance rates going up once you roof is 7 years old or older. Are people having this issue or is it just rumor's?
Why? Mfrs. issue written prorated shingle warranties of either 25 (3 tabs), or 30 yrs. (architecturals). They wouldn't do that unless they knew that to be accurate. I recently retired from 42 yrs. in the roofing business in Cen. Florida.

[Michael G.]

When we bought our house, the sky lights showed leakage, so the seller paid for them when I had a new roof put on for $8,500.

Three years later I had hail damage along with other neighbors and we all needed new roofs.
We had a roofer say our roof needed to be replaced and our insurance adjuster came and said yup,
you need a new roof and they cut me a check for $12,000.

Guess how much my roofer charge me to replace my three year old roof, yep, $12,000 to the penny.

That roofer screwed me though my Insurance Co.

[MDLNB]

I was told to get a new roof installed, even though my inspection passed. They told me if I had a new roof installed, they would give me a discount. I did and they did. A year later, the premium went up 20%. The following year, it was up double of the original discounted premium. I went to my broker and said I wanted them to find me another provider. They said they could only save me about $50 a year. So, I went to another insurance provider suggested by "next door" or whatever that local blog is called. They cut my premium in half. There does not seem to be any model for how much they want to charge. I guess it is just set by how much folks are willing to pay. My wife insisted I search for a new insurance provider and I saved 50%. I have NEVER submitted a claim on a home. Seems like that should make some difference. Everyone in my neighborhood got their "free" roof, when I paid full price for mine. Mine old roof did not leak and there was no bad or missing shingles but it was 18 years old. My new roof is lifetime guaranteed with five years free labor.

[Michael G.]

My new roof is lifetime guaranteed with five years free labor.

Who's lifetime? :1rotfl:

[brianherlihy]

we have a new home. and sold our old one we have a new roof and pay low rates and new

[trishaf]

Went to the ARC a couple of months ago, after hearing the rumor to ask about getting a metal roof. Life of 50 to 70 years. Was told not allowed except in the historic side as it did not fit the aesthetics of the community. Told them I was not talking about a barn roof but stamped steel or aluminum to look like shingles. They said that I could submit and see, things change.

Well I started to notice in the non historic side of THV and there are a lot of not authorized metal roofs and not just in the area by Lake Miona by Sumter Landing. I have seen them on premier homes by Palmer golf course. How can a metal roof be any more non aesthetic than a roof of pool heater tubes or solar panels? Will keep digging and see what state law says about it.

I would be curious to know what else you find out as we have considered this as well when we have to replace the roof.

[OhioBuckeye]

I can’t speak for homes in TV. But I had a roof on a home for 13 yrs. & never had the first issue with it from my Ins. company. Maybe they’re throw away homes, LOL.

[MrFlorida]

Beware, scammers are coming around, offering a free roof inspection. I had two of them in the last few weeks....No matter what they say, they are there to separate you from your money.

[kathyspear]

I can’t speak for homes in TV. But I had a roof on a home for 13 yrs. & never had the first issue with it from my Ins. company. Maybe they’re throw away homes, LOL.

Was the home in Florida or another state?

kathy

[retiredguy123]

When we bought our house, the sky lights showed leakage, so the seller paid for them when I had a new roof put on for $8,500.

Three years later I had hail damage along with other neighbors and we all needed new roofs.
We had a roofer say our roof needed to be replaced and our insurance adjuster came and said yup,
you need a new roof and they cut me a check for $12,000.

Guess how much my roofer charge me to replace my three year old roof, yep, $12,000 to the penny.

That roofer screwed me though my Insurance Co.
If the insurance company gave you a check for $12,000, why didn't you shop around and find a roofer who would charge less, and pocket the savings?

[Topspinmo]

If the insurance company gave you a check for $12,000, why didn't you shop around and find a roofer who would charge less, and pocket the savings?

Wouldn’t the honorable thing to do would be turn over and excess money to insurance company? :icon_wink:

[Topspinmo]

When we bought our house, the sky lights showed leakage, so the seller paid for them when I had a new roof put on for $8,500.

Three years later I had hail damage along with other neighbors and we all needed new roofs.
We had a roofer say our roof needed to be replaced and our insurance adjuster came and said yup,
you need a new roof and they cut me a check for $12,000.

Guess how much my roofer charge me to replace my three year old roof, yep, $12,000 to the penny.

That roofer screwed me though my Insurance Co.

Surely wasn’t in this area. I only seen pea size hail and pea size hail don’t damage anything.

[retiredguy123]

Wouldn’t the honorable thing to do would be turn over and excess money to insurance company? :icon_wink:
Is that a serious question? The insurance company has the option to replace the roof themselves, or to pay you for the estimated value of the loss. You have no obligation to spend all the money, or to reimburse them. The claim is settled when you accept the check.

[Byte1]

Wouldn’t the honorable thing to do would be turn over and excess money to insurance company? :icon_wink:

:1rotfl::1rotfl::1rotfl:

[kkingston57]

Beware, scammers are coming around, offering a free roof inspection. I had two of them in the last few weeks....No matter what they say, they are there to separate you from your money.

Partially correct, they are trying to get money from insurance company(in the end we all pay due to higher insurance premiums).

If you do get a roofer to re roof your home do not sign an AOB(assignment of benefits) contract. You are assigning over your rights that you have to the roofer and they are are going to pursue claim against your insurance company.

PS I was in the insurance biz for 40+ years.

[427dave]

I keep hearing about insurance rates going up once you roof is 7 years old or older. Are people having this issue or is it just rumor's?

AIG sent us a letter stating our deductible for roof damage was changed to $15,000 and increased the premium also. They did give me a choice for double the premium they would give me the $500 deductible back. I called agent and they (Villages) said there was nothing they could do about it. I cancelled and got a different insurance company and found out Villages had screwed me on vehicle insurance also.

[bilcon]

My homeowners went up up $800 last year, (never had a claim and roof is 10 years old. This year it went up again to $2100 and still no claims, but the new roof damage replacement section of the policy sucks. Will be looking. Nothing wrong with my roof.

[Malsua]

I keep hearing about insurance rates going up once you roof is 7 years old or older. Are people having this issue or is it just rumor's?

I own two villas here in TV. One, with a new roof is about $600 with one company. The other with an old roof is $1306.00 with Tower Hill.

I tried to switch, but the 4 point inspection said the roof has about 3 years of life left in it. Not a surprise, we know this. The cheaper company wouldn't write the policy. The policy was under $800 3 years ago.

So, as far as I'm concerned, yes, they have raised my insurance cost because of the roof and because all of the roof "fraud" that has happened in the last few years.

[Topspinmo]

AIG sent us a letter stating our deductible for roof damage was changed to $15,000 and increased the premium also. They did give me a choice for double the premium they would give me the $500 deductible back. I called agent and they (Villages) said there was nothing they could do about it. I cancelled and got a different insurance company and found out Villages had screwed me on vehicle insurance also.

I agree All village insurance does is add to cost of insurance for their cut.