If you have an older roof, you might be wondering how to get homeowners insurance with an old roof. While there are ways to get coverage for your home even with an old roof, the process can be complicated. Insurance companies prefer to offer coverage for newer roofs, as they don’t pose as much of a risk as older roofs. However, a worn or damaged roof increases the risk of home damage and claims.
While many insurance companies won’t cancel your policy because of your old roof, this practice is not uncommon. Insuring your roof before it has lost its useful life is essential, but it can be tricky to find a policy that covers a damaged roof. Some insurance companies won’t cover your damaged roof unless you replace it with a new one. If this is the case, you’ll likely have to replace the entire roof or limit your coverage to the depreciated value.
The best way to get homeowners insurance with an older roof is to ask the insurance company to send an adjuster to inspect the damage. It is best to gather the necessary documents before the inspection, such as your current insurance policy and receipts for repair work. Taking before-and-after photos will be useful as evidence. Once the insurer gets the claim information, it will send an adjuster out to assess the damage.
An old roof is a risk because it is prone to leaks. If you notice cracked or missing shingles, water can easily enter your house. This can cause mold to grow. Furthermore, a sagging ceiling is not a good sign either. It may indicate damage to the structure of your home. You should get a professional inspection, even if you have to pay a bit more for it.
If the damage is not major, your homeowners insurance may cover the cost of a new roof if you are covered for an “actual cash value” amount. Older roofs, however, may have a higher deductible, making it more challenging to get coverage. It is also important to note that your policy may not include coverage for roof replacement, so be sure to keep good records of repairs and inspections.
Some insurance companies will not approve your application for homeowner’s insurance if they see that your roof is too old or has a damaged roof. Others may require an inspection before offering coverage. If the inspection finds that the roof is not in good repair, it may deny you coverage or cancel the policy until the roof is replaced. In these cases, you will need to seek coverage from another insurance company. And if your roof fails an inspection, the insurance company may reject the policy and require you to pay out of pocket.
If you have an older roof, you might want to consider hiring a professional roof inspection. Getting an inspection done by a roofing contractor can protect you against cancellation of your homeowners insurance. The National Roofing Contractors Association offers information on reputable roofing contractors. If you don’t have a contractor in your area, you can find an affordable homeowners insurance policy with GreatFlorida Insurance. You can also contact GreatFlorida Insurance if you’re having trouble finding a policy with an old roof.
In some cases, you’ll find that a home insurance policy covers damage to your roof due to an act of nature, such as a tornado. The insurance company will pay for the cost of replacing your roof if it is damaged by wind, rain, or hail, but you won’t get full reimbursement for your old roof. The insurance company will only pay for a “deemed” value of the roof.
In Central Florida, home owners are struggling to get new homeowners insurance and are even paying out of pocket to replace the roof. For nine years, Paul Alexander had no problems with homeowners insurance until last year, when it was cancelled because his roof was too old. The insurance company said the roof’s age would not change until after the reforms were passed. Then, the insurance agency would close the policy and the insurance company would have to replace the roof.
Homeowners insurance policies cover damage caused by covered circumstances, but if damage has accumulated over time, insurers may deny coverage if you’re unable to prove a specific cause of the damage. A lack of insurance coverage can make it difficult to prove the cause of the damage, and a claim inspector may view your claim as neglectful. For that reason, it’s important to have an inspection before renewing your policy.