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That scam has contributed a lot to the rising premiums and non-renewals of homeowners insurance. I received a renewal for my policy with a few hundred dollars increase - not the doubling or tripling as others have had - with a letter that the price was based on having no claims. Having been in the insurance business for more than 20 years, I predicted this would happen.
Sorry folks - there ain't no such thing as a free lunch. |
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My understanding is that if your roof is no longer covered by your insurance, you still have the other coverages under your homeowner's insurance policy.
For example, if your house catches fire, that loss is covered. If you have a burst water pipe inside your house while you're away and the house is damaged by the water, that is still covered. If a visitor slips and falls on your sidewalk and sues you, that is still covered. Only damages that can be attributed to a faulty/leaky roof are not covered. So, if you'd rather keep your current insurance without the roof leak coverage instead of spending $15K to $18K to have a new roof installed, then that's your option. |
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BOTH Roofer and my Insurance Co. inspected my 3 yr. old roof and said because of hail, it needed replacing. So not knowing anything about roofs and like a dump @ss I said OK, replace it. I should have took the $$$$ and put it toward my ins, premiums without replacement and took my chances. Stupid is as stupid does. |
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Ice & Water shield is not meant to cover the entire roof, especially in areas with wide temperature variations. |
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Funny, in the last 15 years here our house has missed all these roof-wrecking storms. I may have seen hail once for less than a minute. |
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