As homeowner’s insurance companies struggle to stay afloat amidst years of increasing claims, many of which include claims for roof repair, a new trend is emerging that has many homeowners concerned.
According to the Insurance Information Institute (III), some homeowners in the south are receiving notices of being dropped by their insurance companies because of their roofs.
Even roofs that still have a few years left before they reach the guarantee for the materials are being dropped, all in the drive to reduce claims payouts for what could happen if that roof fails.
Ways to Prevent Being Dropped By Your Homeowners Insurance Company
What is a homeowner to do to prevent being dropped by their insurance company over their roof?
The best way to satisfy your insurance agent while also keeping your home safe is to find a reputable local roof company that performs skilled work and team up.
These roofer tips will help you keep your roof in good condition and your insurance company happy:
- Follow the Maintenance Required on the Warranty - If you are having roof repair done or having a new roof put on, be sure to follow the warranty requirements for maintenance and care. Failing to do so can void certain warranties and if that happens, your insurance company is less likely to cover an otherwise coverable repair.
- Get An Annual Inspection - It may cost a few hundred dollars, but an annual roof inspection will detect problems as they are starting and can be repaired inexpensively. Insurance companies frequently decline to pay claims made for roofing problems that were ignored and could have been corrected earlier for a lot less money.
- Plan Ahead for A New Roof - Regardless of whether it is likely for your insurance carrier to suddenly drop you, create a time plan and budget for a new roof early, rather than later. Considering how expensive a new roof can be, devise a plan to pay for it with plenty of advance timing. Should your insurance company then decide that to keep your homeowner's policy, you’ll have to get a new roof 3 years early and be able to cover it.
- Talk To Your Roofer - Develop a relationship with your roofer to choose the right roof for your home, then come up with the right maintenance program to maintain it. Getting some input from your insurance agent would be worthwhile, too.
Wrapping It All Up
While it is impossible to guess how many insurance companies will jump on this growing bandwagon of dropping homeowners with aging roofs, there are things you can do.
Stay in control of your roofing situation by staying informed, practicing good maintenance, and finding a qualified roof company to work with.