Talk of The Villages Florida
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Talk of The Villages Florida (https://www.talkofthevillages.com/forums/)
-   The Villages, Florida, General Discussion (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/)
-   -   Roof replacement (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/roof-replacement-348335/)

RRGuyNJ 03-09-2024 11:51 AM
Self Insured Roofs?
 
Has it ever been looked into about possibly getting the population together and start a self insurance company that would cover roofs only. Maybe have qualified trust worthy inspectors and take care of the members roofs as they are truely required. Remove the regular Homeowner Insurance company completely when it comes to roof related repairs or replacements. It would be a lot of work for sure but in the end it may work out if enough homeowners got involved in it. Just an idea, maybe a crazy one.

retiredguy123 03-09-2024 12:04 PM
Quote:
Originally Posted by RRGuyNJ (Post 2309105)
Has it ever been looked into about possibly getting the population together and start a self insurance company that would cover roofs only. Maybe have qualified trust worthy inspectors and take care of the members roofs as they are truely required. Remove the regular Homeowner Insurance company completely when it comes to roof related repairs or replacements. It would be a lot of work for sure but in the end it may work out if enough homeowners got involved in it. Just an idea, maybe a crazy one.
The problem with the insurance industry is that it is very heavily regulated by the Federal and State governments. The HO-3 homeowners policy is written by the state, and all insurance companies must provide the same coverage. They cannot exclude the roof from the policy, even if they wanted to. That is why some insurance companies decide to stop selling policies in some states.

JohnN 03-10-2024 06:03 AM
How much does insurance go up when your roof hits 15 years? Or will they not even cover you then?
Curious to know before I hit that mark soon enough.

nn0wheremann 03-10-2024 09:23 AM
Quote:
Originally Posted by villagetinker (Post 2308659)
I posed this question to an advertiser, and almost immediately the entire thread disappeared so let's get some other thoughts and opinions.

If the insurance companies are going to force you to replace your roof every 10 to (if you are lucky) 15 years, why would you go for the expensive long life roof shingles? I was thinking about this as an acquaintance spent several thousand dollars extra for 25 or 30 year shingles. I am thinking I would go cheap as I will either be dead or I will have saved a lot of money. I have not heard of any insurance company requirements for the QUALITY OF THE SHINGLES.

Looking forward to some inciteful discussion on this.
I bought the best shingles offered. Cost was a bit less than $3,000 more. I figure if the roof does not blow off, and the leakage and water damage are minimized or non existent, I saved $1 million in hassle and trouble. If not, I squandered a little of my children’s inheritance.

nn0wheremann 03-10-2024 09:26 AM
Quote:
Originally Posted by JohnN (Post 2309299)
How much does insurance go up when your roof hits 15 years? Or will they not even cover you then?
Curious to know before I hit that mark soon enough.
I replaced my roof at age 20 years. My homeowners insurance sent me $540 refund of premium for the ten months left in the policy period.

eremite06 03-10-2024 11:01 AM
I will bet that all those Assignment of Benefits (free) roofs have the cheapest shingles installed.

kkingston57 03-10-2024 05:04 PM
Quote:
Originally Posted by 4$ALE (Post 2308692)
:shrug: I could be wrong, but don't think so. Are you sure about what you posted? I have done some roofing in my day. $35.00 a square for 3 tab shingles??? Maybe $35.00 a bundle - 3 bundles to a square - that would be $105.00 a square (material only). That was the price some years ago..... have no clue what it is now. I just KNOW it's NOT $35.00 a square. :)
Had same thoughts!!!

kkingston57 03-10-2024 05:10 PM
Quote:
Originally Posted by Stu from NYC (Post 2308796)
Roofing companies who do an inspection planning on telling the homeowner he needs a new roof and than insurance companies paying for the roof without doing an independent inspection.
Insurance companies do look at these roofs. Problem was that it would cost them 10X more than the cost of the new roof if the insured proved damages were legit. Used the word WAS in last sentence since legislators changed the laws making it less likely that suits will be filed on these ?able claims

kkingston57 03-10-2024 05:18 PM
Quote:
Originally Posted by eremite06 (Post 2309479)
I will bet that all those Assignment of Benefits (free) roofs have the cheapest shingles installed.
Would not bet against you and the insurance company probably paid 20% more than the market rate.


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