My next door neighbor called me last week to see who put the roof on my house during a remodel. He said he got a notice from his homeowner's insurance they are cancelling his policy unless he replaces his roof. He is 83 and on fixed income and has not had any roof problems.
This maybe happening more than we realized. Just changed home insurance carriers this year due to premiums more than tripling since 2021.
New company had inspector come out and using a drone it was noted my roof could not be insured due to streaking and granular loss! I basically would have one year to replace or no insurance next year. Fortunately, I had the paperwork when roof was replaced which was just a few days under 10 yrs ago. That did change the current coverage to depreciated value if it needs to be repaired or replaced. Contacted the roofing company who installed and owner gave me a name he uses w/o this policy but with replacement cost. Agree, insurance industry needs a major overhaul!!!
My next door neighbor called me last week to see who put the roof on my house during a remodel. He said he got a notice from his homeowner's insurance they are cancelling his policy unless he replaces his roof. He is 83 and on fixed income and has not had any roof problems.
This maybe happening more than we realized. Just changed home insurance carriers this year due to premiums more than tripling since 2021. New company had inspector come out and using a drone it was noted my roof could not be insured due to streaking and granular loss! I basically would have one year to replace or no insurance next year. Fortunately, I had the paperwork when roof was replaced which was just a few days under 10 yrs ago. That did change the current coverage to depreciated value if it needs to be repaired or replaced. Contacted the roofing company who installed and owner gave me a name he uses w/o this policy but with replacement cost. Agree, insurance industry needs a major overhaul!!!