[charlie1]

Recieved the renewal of my homeowners insurance today. Premium went down $100 annually from last year which surprised me. Upon review, the reason for the reduction is that there is now a deductible for roof materials equal to 2% of the home insuranced value. The deductible does not apply if there is a total loss to the property, if the roof has been punctured (example: falling tree), if damage is the result of a hurricane, or if less than 50% of the roof is repaired. Has anyone seen this type of deductible before? They give you the option of rejecting the deductible by signing a statement rejecting it.

[Rainger99]

Originally Posted by charlie1

Recieved the renewal of my homeowners insurance today. Premium went down $100 annually from last year which surprised me. Upon review, the reason for the reduction is that there is now a deductible for roof materials equal to 2% of the home insuranced value. The deductible does not apply if there is a total loss to the property, if the roof has been punctured (example: falling tree), if damage is the result of a hurricane, or if less than 50% of the roof is repaired. Has anyone seen this type of deductible before? They give you the option of rejecting the deductible by signing a statement rejecting it.

Article on the change of law.

New rules for Florida Homeowner's insurance on roofs - Honor Services

[Maker]

Originally Posted by charlie1

Recieved the renewal of my homeowners insurance today. Premium went down $100 annually from last year which surprised me.

Please share the insurance company name

[charlie1]

Originally Posted by Maker

Please share the insurance company name

Progressive

[retiredguy123]

I recently renewed with Progressive, but my roof deductible experience was different from your's. They automatically reduced my premium by applying the roof deductible, and I had the option to pay a higher premium to eliminate the special the roof deductible. It was not very much, but I opted to keep the deductible and the lower premium. Are you sure that rejecting the deductible would not increase your premium? Why would they give you something for nothing? It doesn't sound correct.

[kkingston57]

Originally Posted by retiredguy123

I recently renewed with Progressive, but my roof deductible experience was different from your's. They automatically reduced my premium by applying the roof deductible, and I had the option to pay a higher premium to eliminate the special the roof deductible. It was not very much, but I opted to keep the deductible and the lower premium. Are you sure that rejecting the deductible would not increase your premium? Why would they give you something for nothing? It doesn't sound correct.

Earlier poster provided a review of the law which applies to this case. Now homeowners are going to need an attorney to understand how the law applies,

[CoachKandSportsguy]

Originally Posted by Rainger99

Article on the change of law.

New rules for Florida Homeowner's insurance on roofs - Honor Services

Thank you for the link to explain the latest state law updates.

[Rainger99]

Originally Posted by CoachKandSportsguy

Thank you for the link to explain the latest state law updates.

It would be nice if the Villages Insurance would hold a seminar explaining these changes in the law.

[RPDaly]

////

[charlie1]

Originally Posted by retiredguy123

I recently renewed with Progressive, but my roof deductible experience was different from your's. They automatically reduced my premium by applying the roof deductible, and I had the option to pay a higher premium to eliminate the special the roof deductible. It was not very much, but I opted to keep the deductible and the lower premium. Are you sure that rejecting the deductible would not increase your premium? Why would they give you something for nothing? It doesn't sound correct.

Maybe it is not clear. I got the $100 less premium because they added the roof deductible. I have no idea what it would cost us to sign the statement rejecting the deductible. I am sure the premium would go up!

[Pairadocs]

Originally Posted by Rainger99

It would be nice if the Villages Insurance would hold a seminar explaining these changes in the law.

I expect that will happen when cell phones, computers, and other expensive items will again include a book of directions....LOL !

[Singerlady]

Originally Posted by Rainger99

It would be nice if the Villages Insurance would hold a seminar explaining these changes in the law.

Call your insurance agent.

[Singerlady]

Originally Posted by RPDaly

Insurance companies know all the angles to still come out ahead.

Why do people think that The Villages FIRM is responsible for doing everything FOR us? They are a private business. Yes, they have responsibilities, but this isn’t one of them. Legal advice, insurance questions, financial advice, price of a job……contact an authority. Not just another citizen. Every situation is different.

[wawriwwawriw]

Look at your deductibles and maximum coverage per item. Some number probably changed.

[Wayne Mudge]

What is the home value and is the 2% minor in regard to a roof replacement?