[Badger 2006]

Originally Posted by joelfmi

speech is silver, slience is golden, alot of communities do not have exterior maintenance covered by the community were they repair your roof or replace it after a period or a number of years it is figured into the common charges you pay monthly for this. It seems this community does not have this, so you have to pay with or without insurance. Next time when you buy into a community ask this Question. That is WHY due diligence is very important before you buy into any community.

So built into your maintenance fees is a number ($$) to replace roofs in your community. You live three for 10 years, then move. Do you loose that roof contribution or does the buyer somehow pay the seller, or association? Please explain how this works.

[champion6]

Originally Posted by Badger 2006

So built into your maintenance fees is a number ($$) to replace roofs in your community. You live three for 10 years, then move. Do you loose that roof contribution or does the buyer somehow pay the seller, or association? Please explain how this works.

No, nothing is "built into your maintenance fee ... to replace roofs." Each homeowner is responsible for the cost of their own roof and for determining when to replace the existing roof.

[keepsake]

2021: $2500
2022: $3500
2023: $7500
Since I have no mortgage I have the option to drop windstorm coverage.
Premium $1100
Still have all the liability benefit 500,000
Still have fire, theft, water pipe damage coverages

[Whitley]

Originally Posted by Badger 2006

So built into your maintenance fees is a number ($$) to replace roofs in your community. You live three for 10 years, then move. Do you loose that roof contribution or does the buyer somehow pay the seller, or association? Please explain how this works.

Looking at a condo (FS718), roofs, paint and paving are "usually" a Reserve Item. Reserves are not operating budget items. They are kept in a reserve account and can only be spent on those items in the Reserve study. If you live somewhere and pay 14 years into the Reserves for a roof that is replaced the 15th year, you DO NOT get to credit that at the closing.Reserve studies are updated each year, with a physical detailed study done every three years (for condos). The TVI (Total Voting Interest can vote (This will change next year) not to have reserve contributions. This leads to Special Assessments for those items as they need to be changed. Most people would like to make 180 small payments towards the replacement of a 15 year roof, vs one large sum via a Special Assessment. There is a benefit to Special Assessments, many can be write offs when you sell. I keep binders of S.A.'s for all associations I handle and provide the info to the attorney or Accountant when an owner sells.

[lindaelane]

I had trouble related to a roof.

I called Bradley Blessing State Farm office. 352-307-4471

They were extremely helpful. They answered all questions, helped in advising me, etc. Their rate was better than several other places I checked.

Tell them your situation - about losing coverage due to 15 year old roof, etc. They can advise on whether you must get a new one now. Two years ago, 19 year old roofs was what companies accepted before they raised rates "through the roof" when they were 20 years old.

(I have a new roof now, so I am not sure if companies accept roofs up to 20 years or if 15 is the new limit.")

[Papa_lecki]

Originally Posted by joelfmi

speech is silver, slience is golden, alot of communities do not have exterior maintenance covered by the community were they repair your roof or replace it after a period or a number of years it is figured into the common charges you pay monthly for this. It seems this community does not have this, so you have to pay with or without insurance. Next time when you buy into a community ask this Question. That is WHY due diligence is very important before you buy into any community.

Are you sure you’re posting about the correct community? The Villages in Florida, does not have an association fee (HOA). There is an activity fee.
But I think you knew that.

[chrissy2231]

Originally Posted by Florida Fan

My 90 yr. old mother-in-law, who lives a short distance from us received notification that her homeowners insurance will be cancelled due to her roof being almost 15 yrs. old. So the hunt will be on. Are there any insurance companies that would insure a 15 yr. old roof or should I be getting roofing estimates? Thanks for your time.

you need new roof

[44Apple]

Originally Posted by retiredguy123

The norm? I just renewed with Progressive this month for $880, and the annual incease was only 6 percent. My roof is 6 years old.

Interesting. Can you share with us which model house you have and square footage.

[Pairadocs]

Originally Posted by me4vt

It’s a $💸💵💰racket!

You can say that again ! and again ! and again ! Parents home in Michigan sustained terrible winters, heavy, wet snow, ice, for months each year. Same roof for 26 years, chimney sealed TWICE in all that time, and when that was done each time, the local roofer sealed any loose shingle but seldom found more than 4-6 ! Something wrong here for sure !

[OrangeBlossomBaby]

Originally Posted by oldtimes

Didn't they just pass some kind of law against this?

The law uses 15-year old roof as the benchmark. If it's older than 15 years, insurance companies aren't required to insure the home. If it's 15 years or less, they can only refuse to insure the home if there is some ADDITIONAL reason for refusing. The age of the roof can't be the only reason, IF that roof is 15 years old or newer.

As soon as that roof turns 15 years plus one day - all bets are off.

[OrangeBlossomBaby]

Originally Posted by Battlebasset

Fully understand that. And a higher separate deductible would not remove that requirement. It would just stop the "Oh, I have some missing shingles. I should get a new free roof so all of the shingles match!"

Case in point - we have a house in our neighborhood that had a small addition put on it. The new shingles don't quite match the rest of the house because the original roof is about five years old. It's perfectly serviceable, and in a couple of years, you won't be able to tell. If it was the insurance company's money I'm sure he would have not put up with that, and insisted on all new shingles.

The new law has within it a provision for that. They no longer have to replace the roof, if it can be patched. They can pay just for a patch job.

Your votes at work, folks.

[JMintzer]

Originally Posted by retiredguy123

The norm? I just renewed with Progressive this month for $880, and the annual incease was only 6 percent. My roof is 6 years old.

Originally Posted by 44Apple

Interesting. Can you share with us which model house you have and square footage.

Our progressive bill just came as well.

Ours went up from $1200 and change to $1300 and change. It was $1050 the first year.

We have an Aspen model, 1900-2000 sq ft, built in 2016 (or 17), and we bought it as a resale, so our initial cost basis is higher...

[bimmertl]

Just knowing the type of house and sq footage is a start.

Need to know how much the dwelling coverage limits are and what deductibles are in place on the overall policy and wind coverage section.

Without that information any comparisons are meaningless.

[Caymus]

CNBC had a segment of the Florida Insurance Market this morning. Some interesting information that not everybody may be aware of.

Access Denied

[Duppman]

Originally Posted by Florida Fan

My 90 yr. old mother-in-law, who lives a short distance from us received notification that her homeowners insurance will be cancelled due to her roof being almost 15 yrs. old. So the hunt will be on. Are there any insurance companies that would insure a 15 yr. old roof or should I be getting roofing estimates? Thanks for your time.

We had our 12 YO roof inspected today by a reputable company. The inspection showed NO storm damage and should get approximately 5 years of life. The fly by night company was here a few months ago and said we needed a new roof because of storm damage. Buyer beware.