[Papa_lecki]

Proposed Florida Insurance Legislation being debated next week.

A crackdown on denying insurance based on roof age and a crackdown on the roofing scam

[Keefelane66]

It will be whatever the Insurance Lobby proposes.

[Stu from NYC]

Originally Posted by Keefelane66

It will be whatever the Insurance Lobby proposes.

Would hope it is best for everyone other than the crooks making money off of phony claims

[blueash]

the little photo of the proposal gives not a bit of information on what is being suggested. It just says it needs to be fixed.

My proposal would be that homeowner's insurance cover roofing as a depreciating asset like when you buy tires. Full replacement for 2 or 3 years then decreasing coverage down to zero percent after 15 years for claims related to weather damage. You could optionally buy 100% replacement roof coverage, but you can be sure it would be expensive.

[tophcfa]

Originally Posted by blueash

the little photo of the proposal gives not a bit of information on what is being suggested. It just says it needs to be fixed.

My proposal would be that homeowner's insurance cover roofing as a depreciating asset like when you buy tires. Full replacement for 2 or 3 years then decreasing coverage down to zero percent after 15 years for claims related to weather damage. You could optionally buy 100% replacement roof coverage, but you can be sure it would be expensive.

Good ideas, I would add that claims must be filed within a month of any weather event.

[RVJim]

Insurer’s don’t have to write insurance an Florida. The legislature should be careful of what they codify into law unless they want the better HO insurers to stop writing and stop renewing coverage.

[tophcfa]

Originally Posted by RVJim

Insurer’s don’t have to write insurance an Florida. The legislature should be careful of what they codify into law unless they want the better HO insurers to stop writing and stop renewing coverage.

Agree, that’s why the law should be written to protect insurance companies from fraudulent claims and give them incentive to want to write business in Florida. For the right premium cost adjustment, I would be willing to waive any shingle replacement claim rights and self insure that specific carve out of our homeowners policy.

[Caymus]

A related article.

MSN

[Aacosner]

Originally Posted by blueash

My proposal would be that homeowner's insurance cover roofing as a depreciating asset like when you buy tires. Full replacement for 2 or 3 years then decreasing coverage down to zero percent after 15 years for claims related to weather damage. You could optionally buy 100% replacement roof coverage, but you can be sure it would be expensive.

For years I've wondered why home insurance isn't prorated, just as you say, for roof damage. Insurance is prorated on cars -- you don't get a new car if your 10-year old one is wrecked. It seems blindingly obvious to cover roofs that way.

[bimmertl]

Rebuilding After a Storm: Know the Difference Between Replacement Cost and Actual Cash Value When It Comes to Your Roof.

[New Englander]

Lets pray our Governor can do something about this mess we are all in.

[Blueblaze]

I'm fine with ending the roofing scams. Why should your insurance company have to buy you a new roof just because some scam artist tells you you've got "storm damage" that looks like any other 15 year old roof?

But while our politicians are listening to the insurance lobby's whines, I hope they take a moment to listen to homeowners like me, who just got an 18% premium increase on the same bill where they eliminated ALL roof coverage except for named storms -- and then had the audacity to tell me my home's only worth 10% more than last year, in a year where Zillow says my home value is up 50%!

[Babubhat]

How can you prorate? A leaky roof can cause massive interior damage and still result in large claims. Insurance exists to be made whole

[RVJim]

Originally Posted by Babubhat

How can you prorate? A leaky roof can cause massive interior damage and still result in large claims. Insurance exists to be made whole

I disagree, insurance does not exist to make one whole. Insurance exists to mitigate and put a cap on what a loss costs an insured.

[Topspinmo]

Originally Posted by blueash

the little photo of the proposal gives not a bit of information on what is being suggested. It just says it needs to be fixed.

My proposal would be that homeowner's insurance cover roofing as a depreciating asset like when you buy tires. Full replacement for 2 or 3 years then decreasing coverage down to zero percent after 15 years for claims related to weather damage. You could optionally buy 100% replacement roof coverage, but you can be sure it would be expensive.

Gee, like insurance I had in other states.