by Guest » Mon Sep 12, 2011 07:30 am
I have a 27 year old home insurance. Now the insurance company is telling me to replace my roof to renew my policy. They are sighting the reason as long wear and tear damages. But they’ll not pay anything for my roof. After so many years of paying premiums why should I pay from my pocket to replace the roof? Also can they really force me to replace my roof just to renew the policy?
Posted: Mon Sep 12, 2011 12:01 pm Post Subject:
I am not an expert but I really don’t think that the insurance company can force you to replace your roof.
However they can deny renewing your policy sighting improper maintenance of your property.
Insurance companies cover for your loses due to perils not for the regular wear and tear.
Posted: Mon Sep 12, 2011 12:35 pm Post Subject:
As mentioned, they are telling you they will only renew the policy if you replace the roof. The reason being is that they cover certain damages to the roof (wind, hail, etc,) and certain damages if the roof is damaged (water damage mainly). A roof that is past it's prime is more likely to sustain this type of damage. That damage is going to occur only because you did not maintain the roof. The insurance company does not want this type of risk (risk due to a lack of regular maintenance).
Why should you pa for this? Because it's routine maintenance that every home owner needs to do. It's not what insurance is for.
Posted: Wed Feb 29, 2012 04:55 am Post Subject: TbfHAkULwBJvTCuT
, essvcxiee claims activity is a valid and allowable reason for cancellation.There is a possibility that he can find a non-standard company that might offer the coverage. It won't be easy and it wont be as cheap as what he is used to paying for homeowners insurance.The worst case scenario would be that he would have to apply for the FAIR plan in his state. The FAIR plans offer basic property insurance to persons who have an insurable interest in real or tangible personal property and who have been unable to secure such insurance from the voluntary insurance market. The coverage offered is much more basic and is more expensive than what is available in the voluntary market. The state does not fund the FAIR plan it is, instead, funded by all the insurance companies that operate in your state.
Posted: Fri Apr 06, 2012 06:58 am Post Subject:
This is not the fair deal..I am not the expert of such things but i cannot understand the reason behind such enforcement of insurance company on you.According to my experiences their is no such legal conditions in any Insurance policy, which force their customer to replace house roof just to renew the policy.
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Ted,
Property Management London Services
Posted: Fri Apr 06, 2012 02:40 pm Post Subject:
Insurance companies can cancel policies if proper maintenance is not performed. It is an insurance policy, not a maintenance policy.
Posted: Fri Apr 06, 2012 08:01 pm Post Subject:
They are definitely not going to pay for the roof for the reason of wear, tear and age of the roof. As for them non-renewing unless you replace the roof, I believe they can do this as they are not forced to insure your property, I don't believe they could cancel the policy mid term for this issue but if you are coming up for renewal I don't feel they are wrong in inspecting the risk they insure and making sure it is being properly maintained.
Posted: Sat Apr 07, 2012 07:02 pm Post Subject:
Correct. They can choose to not renew a policy, but can't cancel med term. That is what I meant to say.
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