Very Basic Insurance Question.

[Will.S]

I have been reading some TV posts that confuse me regarding insurance. I have NEVER heard this before in any state Ive lived outside Florida. Does the home insurance that covers your physical structure and ROOF..... Also cover HVAC & WATER HEATER ?

My question for clarification is we will be buying in the villages very soon. IF we buy resale, it will be 8 years old (or we will buy new). Some people mention the age of all three of these things like the home owners insurance covers all three so if they are older, they're maybe an insurance issue at the 10 yr mark.

Thanks for your time.

[retiredguy123]

Homeowner's insurance will cover the HVAC and water heater if they are damaged by one of the perils described in the policy, such as a fire, windstorm, water damage, or theft. But, if these appliances just stop working or wear out, your insurance will not pay to repair or replace them.

[lkagele]

Homeowner's insurance will cover the HVAC and water heater if they are damaged by one of the perils described in the policy, such as a fire, windstorm, water damage, or theft. But, if these appliances just stop working or wear out, your insurance will not pay to repair or replace them.

Kind of correct but not entirely accurate. HO insurance is written on an 'all risk' basis. Everything is covered unless an exclusion to coverage exists.

So, yes, your water heater and HVAC system are covered unless the cause of loss is specifically excluded. Examples:

Fire damage to your house damaging hot water tank and/or HVAC units. Fire is not excluded. Damage as a result of the fire is covered.

Hot water tank and/or HVAC wears out. Wear and tear, mechanical failure are excluded. Replacement of the water tank is not covered by your HO insurance.

If the water tank rusts through, however, still no coverage for the replacement of the tank (wear and tear exclusion) but any ensuing water damage would be covered by insurance.

For wear and tear issues, there are Home Warranty policies out there that cover those types of problems. There are ads for them all the time on the TV.

[retiredguy123]

I would encourage you to NOT buy a home warranty. Do a search for other threads on this topic. They are a ripoff.

[villagetinker]

I have been reading some TV posts that confuse me regarding insurance. I have NEVER heard this before in any state Ive lived outside Florida. Does the home insurance that covers your physical structure and ROOF..... Also cover HVAC & WATER HEATER ?

My question for clarification is we will be buying in the villages very soon. IF we buy resale, it will be 8 years old (or we will buy new). Some people mention the age of all three of these things like the home owners insurance covers all three so if they are older, they're maybe an insurance issue at the 10 yr mark.

Thanks for your time.

Insurance here is the same as where you are now, it does not cover 'wear and tear', it covers damage due to covered events. In Florida, lots of shysters conned people to sign "assignment of benefits" documents which allowed the shysters to have COMPLETE CONTROL of the roof replacements up to and including filing suits to have roofs replaced. The con was the people were told the roof replacement was FREE. Florida did pass a law to bar this activity, however there is a loophole, sorry I do not recall the details, however, the bottom line do NOT sign an assignment of benefits document under any circumstances.

[kkingston57]

I have been reading some TV posts that confuse me regarding insurance. I have NEVER heard this before in any state Ive lived outside Florida. Does the home insurance that covers your physical structure and ROOF..... Also cover HVAC & WATER HEATER ?

My question for clarification is we will be buying in the villages very soon. IF we buy resale, it will be 8 years old (or we will buy new). Some people mention the age of all three of these things like the home owners insurance covers all three so if they are older, they're maybe an insurance issue at the 10 yr mark.

Thanks for your time.

99.99% of policies(if not 100%) pay for HVAC and water heaters. I was in the biz and almost all states have same policies. Do an internet search for an HO- 3 policy(most common homeowner policy)

[RRGuyNJ]

Our last home in NJ had a hot water heating system and the boiler was installed in the early 90's and is still in service today. No problem with insurance. The water heater was roughly 25 years old when I changed it but there was no issue with insurance coverage. The roof was close to 30 years old when the new owners replaced it, no issue with insurance. Florida insurance companies need to be knocked of thier high horse. They have way too much control!
NJ Manufacturers was the insurance company we used there.

[golfing eagles]

After 10 years, Progressive just cancelled my HO policy along with 5,000 others in TV alone. No reason other than "reducing their hurricane exposure", which is ironic considering that TV is the place they send evacuees from the coast.

Had a meeting with my agent and here are some FACTS, as opposed to TOTV rumor, that I didn't know:

NO ONE has had their homeowners cancelled because their roof was approaching 15 years old or even much older. However, if you change insurance and your roof is 15+ years old, you may have to replace it to get new coverage.

Also, claims history has nothing to do with which policies Progressive is cancelling---it is sort of a random program---many on my street have been cancelled with no claim history---others with roofing issues after Irma have not been cancelled. Go figure.

I would venture to guess this is the brainchild of some actuary at the insurance company---which explains why he isn't a rocket scientist

[La lamy]

Our last home in NJ had a hot water heating system and the boiler was installed in the early 90's and is still in service today. No problem with insurance. The water heater was roughly 25 years old when I changed it but there was no issue with insurance coverage. The roof was close to 30 years old when the new owners replaced it, no issue with insurance. Florida insurance companies need to be knocked of thier high horse. They have way too much control!
NJ Manufacturers was the insurance company we used there.

I know Florida insurance is very prohibitive, but Florida is massively more prone to devastating storms than NJ. If you were in the insurance business, would you want to insure Floridians?!

[Rainger99]

Our last home in NJ had a hot water heating system and the boiler was installed in the early 90's and is still in service today. No problem with insurance. The water heater was roughly 25 years old when I changed it but there was no issue with insurance coverage. The roof was close to 30 years old when the new owners replaced it, no issue with insurance. Florida insurance companies need to be knocked of thier high horse. They have way too much control!
NJ Manufacturers was the insurance company we used there.

When you say no issue with insurance, what do you mean?

Did insurance pay for it? Or was there no coverage?

[Duppman]

I have been reading some TV posts that confuse me regarding insurance. I have NEVER heard this before in any state Ive lived outside Florida. Does the home insurance that covers your physical structure and ROOF..... Also cover HVAC & WATER HEATER ?

My question for clarification is we will be buying in the villages very soon. IF we buy resale, it will be 8 years old (or we will buy new). Some people mention the age of all three of these things like the home owners insurance covers all three so if they are older, they're maybe an insurance issue at the 10 yr mark.

Thanks for your time.We are with State Farm in Minnesota, and have an add on that covers permanently installed items. Furnace, air, hot water heater and electrical. Our air broke down 20+ years old and just had it replaced. If the units can't be repaired (parts not available etc.) the coverage kicks in to replace minus deductible. The coverage is through S.F. but with another company so it didn't count towards our experience rating.

[NoMo50]

After 10 years, Progressive just cancelled my HO policy along with 5,000 others in TV alone. No reason other than "reducing their hurricane exposure", which is ironic considering that TV is the place they send evacuees from the coast.

Had a meeting with my agent and here are some FACTS, as opposed to TOTV rumor, that I didn't know:

NO ONE has had their homeowners cancelled because their roof was approaching 15 years old or even much older. However, if you change insurance and your roof is 15+ years old, you may have to replace it to get new coverage.

Also, claims history has nothing to do with which policies Progressive is cancelling---it is sort of a random program---many on my street have been cancelled with no claim history---others with roofing issues after Irma have not been cancelled. Go figure.

I would venture to guess this is the brainchild of some actuary at the insurance company---which explains why he isn't a rocket scientist

We moved to another house within the same Village 4 months ago...house not 4 years old yet. We had been with Progressive on our initial home here, as well as our previous home in the Midwest. Progressive would not write the policy on our "new" home, basically saying what you said. In fact, our agent at Villages Insurance told me that Progressive was initiating its departure from Florida...at least in the homeowners market.

[SaucyJim]

I know Florida insurance is very prohibitive, but Florida is massively more prone to devastating storms than NJ. If you were in the insurance business, would you want to insure Floridians?!

Grouping the risks of all counties or regions of Florida is ridiculous. I chose TV for retirement because it is not coastal. There is no logical reason to set our risk the same as someone who lives on the coast.

So, I would be glad to insure both regions, but the coastal regions would pay much higher premiums commensurate with their risk.

You want a beach house, pay up!

[Dlbonivich]

The reason you are seeing those items in regard to homeowners insurance in Florida is when you buy a home sometimes insurance requires a 4 point inspection. It is roof HVAC plumbing and electric. It is to determine if they are all in good shape. The water heater gets called for being old they will ask you to change it. They do not replace water heaters, but they cover damage that happens when one breaks and water intrusion comes through a wall or floor. Same with all the other items, they cover damage if they fail and cause a problem. A 4 point inspection during your home inspection period costs an additional $75 to $125 for the inspector to fill out a form with photos for you to submit to your insurer. Only get one if the insurer requires it.

[Birdrm]

You would think insurance companies would want to insure in TV as an offset to any policies that they have in the costal areas?

[Topspinmo]

They look at age of air handler and water heaters due to damage they can cause. That damage can far exceed cost of replacement of old unit. So, insurance exclude wear and tear, but have high risk on old units costing other expensive damage to home.

If you read every word of the policy (fine print ) you’ll see lot of exclusions in lawyers jargon which most don’t understand.

Somebody mentioned home warranties, good luck with that, IMO their lawyer jargon worse than home insurance policies. I had neighbors that had home warranties, they IMO rarely even pay anything.

[PurePeach]

I have been reading some TV posts that confuse me regarding insurance. I have NEVER heard this before in any state Ive lived outside Florida. Does the home insurance that covers your physical structure and ROOF..... Also cover HVAC & WATER HEATER ?

My question for clarification is we will be buying in the villages very soon. IF we buy resale, it will be 8 years old (or we will buy new). Some people mention the age of all three of these things like the home owners insurance covers all three so if they are older, they're maybe an insurance issue at the 10 yr mark.

Thanks for your time.

Once the three items you mentioned begin to age, they can leak and you not know it until you have a major problem. One of my neighbors had an old water heater that caused a flood in her house, which then meant a pretty big insurance claim. And remember your AC can leak also, and an old roof — well you get it!

[nn0wheremann]

I have been reading some TV posts that confuse me regarding insurance. I have NEVER heard this before in any state Ive lived outside Florida. Does the home insurance that covers your physical structure and ROOF..... Also cover HVAC & WATER HEATER ?

My question for clarification is we will be buying in the villages very soon. IF we buy resale, it will be 8 years old (or we will buy new). Some people mention the age of all three of these things like the home owners insurance covers all three so if they are older, they're maybe an insurance issue at the 10 yr mark.

Thanks for your time.
The insurance companies are concerned that older water heaters will leak and cause water damage claims. The ten year roof mania was all about roof damage claims citing damage to 25% of the roof area. This allows for replacement of the entire roof, regardless of the type or severity of damage, all due to a court decision.

[pcntech]

I am with State Farm. My rate from 2023 to 2024 actually went down $100.00. I opted for Ground Movement. This covers "Sink Hole" or other ground failure that is not seen....i.e. under your house. Most insurers will not cover a roof over 15 years old. You have to get a new one. I strongly advise getting whole house gutters. You cannot believe the amount of water that falls here. For what ever reason, the natural gas line in the house is in flex tubing and runs up into the attic. This is what usually causes house fire in event of lightning strike. DO NOT get the optional "Surge Protection" from Duke. They cover nothing. Better off getting quality surge protectors for computers, TVs etc. We have been fortunate the past 2 yrs. I live down by Sawgrass Grove. Have now been through 4 hurricanes and all we had is wind/rain. No damage or power outages due to storms. So coverage for lightning and resulting damage to appliances, wiring etc, wind/rain, ground disturbance, things falling from the sky (from a plane or other source. I'm from So Calif and it happens), liability for worker on your property. This raises another point. Only hire qualified contractors. A contractor will say they are licensed and insured. Yes they have a drivers license and their truck is insured. Yes this is what they do! Be sure to check that the business is licensed, insured, bonded and has workers comp. I also opted for a $1mil "Umbrella Policy" in case of suit. BTW...Seniors vs Crime is always a first place to check for contractor, etc. They have recovered over $2Mil for Villagers who were ripped off.

[tophcfa]

I have been reading some TV posts that confuse me regarding insurance. I have NEVER heard this before in any state Ive lived outside Florida. Does the home insurance that covers your physical structure and ROOF..... Also cover HVAC & WATER HEATER ?

My question for clarification is we will be buying in the villages very soon. IF we buy resale, it will be 8 years old (or we will buy new). Some people mention the age of all three of these things like the home owners insurance covers all three so if they are older, they're maybe an insurance issue at the 10 yr mark.

Thanks for your time.

The age of the three items is related to insurance companies willingness to write you a policy, and if so, at what premium. Older roofs and water heaters expose insurers to higher risk of water damage and a failed A/C system can lead to costly mold damage. Insurance companies are in the business of profitable risk based pricing and are always looking for new ways to stratify and quantify every type of risk possible.

[tophcfa]

After 10 years, Progressive just cancelled my HO policy along with 5,000 others in TV alone. No reason other than "reducing their hurricane exposure", which is ironic considering that TV is the place they send evacuees from the coast.

Same thing with Farmers, we just got our non-renewal notice despite never having a claim on 5 different homes over a very long time. My understanding is that the reason Villagers are getting cancelled, to reduce hurricane exposure, is because insurers can’t cherry pick locations within the state where they want to write policies. They either have to write insurance throughout the state, or pull out entirely. I suspect that if companies like Farmers and Progressive could write policies at locations like the Villages, but avoid the much higher risk costal locations, our policies wouldn’t be getting cancelled.

[bobchap]

If you purchase a resale home, make sure it is a newer build so it will be built to the newer hurricane building codes. This will help when you search for home owners insurance. Also, a block house will probably have lower insurance than a stick built home.

[MightyDog]

I am with State Farm. Most insurers will not cover a roof over 15 years old. You have to get a new one.
Question: I assume you're referring to shingle roofs, yes? Because, my understanding is that both membrane and metal roofs last a fair amount longer than shingle. So, how do insurers generally factor those?

I strongly advise getting whole house gutters. You cannot believe the amount of water that falls here. I am a fan of gutters (never quite understand why some houses don't have them or only partially) but, I'm interested why you stated that? Is it because it creates too much ground saturation around the foundation?

[tophcfa]

I am a fan of gutters (never quite understand why some houses don't have them or only partially) but, I'm interested why you stated that? Is it because it creates too much ground saturation around the foundation?

Gutters empty into downspouts that need a place to dump a concentrated amount of water. Houses are so close together it’s sometimes difficult to find a place for the downspouts to be placed. Also, no basements to protect from flooding. Sandy Florida soil drains very quickly. It’s also nice for senior citizens not to have to climb ladders to clean out the gutters, especially if you happen to have a Live Oak or other large tree near your home.

[MightyDog]

Gutters empty into downspouts that need a place to dump a concentrated amount of water. Houses are so close together it’s sometimes difficult to find a place for the downspouts to be placed. Also, no basements to protect from flooding. Sandy Florida soil drains very quickly. It’s also nice for senior citizens not to have to climb ladders to clean out the gutters, especially if you happen to have a Live Oak or other large tree near your home.

I see...thank you. Thought there may be reasons that hadn't occurred to me.

[gorillarick]

There are pros and cons of gutters.

Pro - you don't get as wet when you walk outside in the rain.
Also, can direct water - if you have a good place to direct it, and you don't mind a 6' extension into your lawn to get it away from your house.

Con - can get clogged. Clogged gutters can do significant damage to roof, and facia (behind the gutter).
Unsightly, maintenance, pressure washing, scrubbing mold, painting?

Unless I have a good reason for gutters, I leave them off. I've even torn 'em down on several homes.

[65stang]

They told me they are leaving the state, cancelling on a rolling basis based on policY dates. My renewal is Dec, they notified me in August.


After 10 years, Progressive just cancelled my HO policy along with 5,000 others in TV alone. No reason other than "reducing their hurricane exposure", which is ironic considering that TV is the place they send evacuees from the coast.

Had a meeting with my agent and here are some FACTS, as opposed to TOTV rumor, that I didn't know:

NO ONE has had their homeowners cancelled because their roof was approaching 15 years old or even much older. However, if you change insurance and your roof is 15+ years old, you may have to replace it to get new coverage.

Also, claims history has nothing to do with which policies Progressive is cancelling---it is sort of a random program---many on my street have been cancelled with no claim history---others with roofing issues after Irma have not been cancelled. Go figure.

I would venture to guess this is the brainchild of some actuary at the insurance company---which explains why he isn't a rocket scientist

[blueash]

..
NO ONE has had their homeowners cancelled because their roof was approaching 15 years old or even much older. However, if you change insurance and your roof is 15+ years old, you may have to replace it to get new coverage.



Well, I had Progressive and I didn't have my policy cancelled 2 years ago. No, what they told me in a letter is that it would not be RENEWED if I didn't replace the 15 year old roof. So it may be true that nobody has been cancelled as that suggested in the middle of the policy year.

Fast and loose with language.

[CoachKandSportsguy]

I just read where CA home insurance rates climb 30+%

Allstate receives approval for 34% increase in homeowners insurance rates (https://finance.yahoo.com/news/allstate-receives-approval-34-increase-205640290.html)

The issue is that more houses have been built in the higher risk areas, builders build where people want to go, same with the Morse Development company. FL is no different than CA and other eastern coastal states.

Paradise locations are more expensive to live than most others, so insurance will wax and wane as states regulators allow price changes based upon coverage options and suppliers. . in a competitive economy, always the solution for high prices is high prices, but that solution is very counter intuitive and unpopular. .

good luck to us

[RRGuyNJ]

When you say no issue with insurance, what do you mean?

Did insurance pay for it? Or was there no coverage?

The insurance had no problem offering insurance on the home. The water heater or boiler for the home heating system as well as the central air conditioning were not covered if they failed due to wear and tear. Age of these system were not even mentioned.
We had hot water radiant heat which if you think about it presents a greater chance of water damage since hot water is circulating through out the house.
I get it that insurance coverage is tough for the companies as a whole in Florida due to storms. Replacing water heaters and heat pumps at 12 years or so is nonsense.