WOT...I need to replace the roof on my house

[kannibul]

I started to switch my homeowners policy to another company that would cover my house at a higher amount (more realistic for a rebuild cost), for not much more money, and it'd drop the costs of my auto insurance policies by a good amount over my current carrier which had (until yesterday), all my policies. (switched auto yesterday)


The new insurance company sent a guy out to check my roof and it failed badly enough to where they won't cover me because of it, so, I can't switch...yet.

So...I checked into my homeowner's policy, and it's cash-value, instead of replacment cost. From what I understand, they base it off the life length of the roof (original, 1995 home) with a max of 50% for depreciation (meaning they'll pay at least 50%...), but I don't know if their payout is based off a number they pull out of the air for total replacement, or if it's based on my quotes/bids that I get from 3rd party....

With that, I've filed a claim with my insurance carrier.

Speaking of quote/bids, I've got one company that gave me a bid, so doing the math, I know what I'll have out of pocket. I have another company that will be going out to give me a second estimate. I may get a 3rd as well. I don't know if the adjuster will give me an estimate or not - or if they'll just want one of my bids...


So...what should I expect? Thanks for any help...

EDIT: I forgot to mention (somehow) that my house (and many of my neighbors) all have hail damaged and "total losses" on their roofs and had them replaced. I didn't at the time, because I simply didn't havethe money, and I didn't think it was "that bad" - that being my non-expert opinion based on my roof not leaking...(yeah, kind of dumb...lol)

Anyhow.

 

[cliffc8488]

A 25 year-old roof has a cash value of 0. Most builders use 25-year shingles so the roof just simply needs to be redone. I don't see how you can file an insurance claim. It's simply worn out.

 

[JackBootedThug]

A 25 year-old roof has a cash value of 0. Most builders use 25-year shingles so the roof just simply needs to be redone. I don't see how you can file an insurance claim. It's simply worn out.

i agree, never heard of filing a claim just because the roof is old. what kind of roof were you going to put on? shingles or metal? one plus to metal is you can go over your existing shingles and not have to pay for a removal. plus some of the colors are energystar rated as well.

 

[Anonymous]

I started to switch my homeowners policy to another company that would cover my house at a higher amount (more realistic for a rebuild cost), for not much more money, and it'd drop the costs of my auto insurance policies by a good amount over my current carrier which had (until yesterday), all my policies. (switched auto yesterday)


The new insurance company sent a guy out to check my roof and it failed badly enough to where they won't cover me because of it, so, I can't switch...yet.

So...I checked into my homeowner's policy, and it's cash-value, instead of replacment cost. From what I understand, they base it off the life length of the roof (original, 1995 home) with a max of 50% for depreciation (meaning they'll pay at least 50%...), but I don't know if their payout is based off a number they pull out of the air for total replacement, or if it's based on my quotes/bids that I get from 3rd party....

With that, I've filed a claim with my insurance carrier.

Speaking of quote/bids, I've got one company that gave me a bid, so doing the math, I know what I'll have out of pocket. I have another company that will be going out to give me a second estimate. I may get a 3rd as well. I don't know if the adjuster will give me an estimate or not - or if they'll just want one of my bids...


So...what should I expect? Thanks for any help...

You have a homeowners policy that PAYS to fix normal wear and tear on your roof? I've never heard of this.

Steve

 

[Anonymous]

A 25 year-old roof has a cash value of 0. Most builders use 25-year shingles so the roof just simply needs to be redone. I don't see how you can file an insurance claim. It's simply worn out.

Its 15 years old actually, but I still never heard of a homeowners policy that covers normal wear and tear on a roof...

Steve

 

[Anonymous]

I did some research and homeowner's policies NEVER cover normal wear and tear like fixing an old roof. Your coverage should really be used for large losses (fires, thefts) that are emergency situations and COVERED. Most carriers will raise your rates significantly after even one or two claims. You can even be denied insurance entriely...

Steve

 

[mysticaxe]

I did some research and homeowner's policies NEVER cover normal wear and tear like fixing an old roof. Your coverage should really be used for large losses (fires, thefts) that are emergency situations and COVERED. Most carriers will raise your rates significantly after even one or two claims. You can even be denied insurance entriely...

Steve

Other insurers will also see if you've filed a claim and may adjust your rates accordingly - that happened to a condo building that I used to live in - we filed a large, legitimate claim, and our rate tripled. Then we were stuck because no one else would take the building...

 

[jaybird]

I did some research and homeowner's policies NEVER cover normal wear and tear like fixing an old roof. Your coverage should really be used for large losses (fires, thefts) that are emergency situations and COVERED. Most carriers will raise your rates significantly after even one or two claims. You can even be denied insurance entriely...

Steve

Other insurers will also see if you've filed a claim and may adjust your rates accordingly - that happened to a condo building that I used to live in - we filed a large, legitimate claim, and our rate tripled. Then we were stuck because no one else would take the building...

Insurance is great, huh? Use it and your rates make go up more than your claim amount over years. What a racket! I know they need to make money, but sometimes seems like such a racket.

As far as insurance covering roof shingles just because they are old - I wish! Think that it fantasy. The only way I know they MAY cover is from storm damage like wind, hail, etc.

 

[jaybird]

To answer the original ?, get as many bids as possible as prices can vary quite a bit, but only from reputable contractors!!! Bad roof job = complete nightmare. Water can be quite the destructive force if there is a leak. My friend got a roof done from a contractor "friend" who subbed it out to a crew of idiots who damaged a skylight and did not put the flashing correctly around the chimney and it slow leaked causing all sorts of problems. I just got part of my roof done, and when they stripped it my contractor was horrified at how poorly the old roof had been put on - why I had a problem in the 1st place.

 

[Strat+Marshall]

To answer the original ?, get as many bids as possible as prices can vary quite a bit, but only from reputable contractors!!! Bad roof job = complete nightmare. Water can be quite the destructive force if there is a leak. My friend got a roof done from a contractor "friend" who subbed it out to a crew of idiots who damaged a skylight and did not put the flashing correctly around the chimney and it slow leaked causing all sorts of problems. I just got part of my roof done, and when they stripped it my contractor was horrified at how poorly the old roof had been put on - why I had a problem in the 1st place.

Yeah, I just bought a POS house and I am in the process of figuring out what moisture damage is active and what is old. The roof is fairly new but I am starting to think they did a half-assed job.

 

[JTyson]

The metal roofs are showing up all over the place down here in hurricane alley, I like 'em

 

[Riddick]

The metal roofs are showing up all over the place down here in hurricane alley, I like 'em

You must be a roofer? Metal roofs and wind don't get along, trust me I know.....

 

[JTyson]

nope, I fix appliances. I did wonder about that

 

[GuitarGuyLP]

There are some newer style metal roofs that are extremely high wind rated. I would recomend researching what is available, and talking with a few contractors to see what they recomend, and ask them about what they recomend, and why they recomend it. Research your contractor, and if something does not sound, or feel right go with someone else.

 

[Digital Jams]

Wear and tear Jeff, insurance does not cover that.

Only advise I have is that if you are staying in that house for more than 15 years then have the roof ripped of because then in 15-20 years you can throw new shingles over the old ones. Out in OK I can't see your roof being more than $4500 and that includes ripping the old shingles off and 30 year replacement.

 

[Marshall Law]

get a friend who roofs and have other friends come over and buy some beer and go at it, you might have some leaks but it was cheap

 

[Riddick]

nope, I fix appliances. I did wonder about that

Metal roofs, unless engineered correctly are not particulary "wind" resistant, they peel back like a banana in winds over 80 mph

 

[Riddick]

There are some newer style metal roofs that are extremely high wind rated. I would recomend researching what is available, and talking with a few contractors to see what they recomend, and ask them about what they recomend, and why they recomend it. Research your contractor, and if something does not sound, or feel right go with someone else.

True, but they cost upwards of $450 per square, very expensive but they look great, last a long time and are highly hail resistant.

 

[stephen sawall]

I spent years on a roof. Most houses go pretty quick. The hammer is not real guitar player hand friendly ..... if you swing one enough you well hit your thumb (this well not improve guitar playing). Like any job .... if it's worth doing ~ do it right.

 

[kannibul]

Sorry, I must have omitted one very important item...

April of 2008 we had a HUGE hail storm - softball size hail that beat the shit out of mine and everyone else's house around me.

I didn't file one then because 1) I've never filed a claim 2) I didn't have the money...which is also true now, but I'm willing to do a few things to do it...

I have until the first week of April to file a claim on that event.


Also, from what I know, when you have a roof, they depreciate it based on the life of the roof, with a maximum depreciation of 50%. 15 years on a 25 year roof. Even worst case, that's still 50% depreciation. What that means in terms of real dollars, I don't know, which I'm asking.

So...yeah...anyway.