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Azsun

Master Roofer
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Reply with quote  #1 

Not as far as determining whether to pay or not, but it does affect how much the insurance company will pay if you have an actual cash value (ACV) policy.
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topperj

Master Roofer
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Reply with quote  #2 
Absolutely not.  The cost to repair is based on today's cost of material and labor.
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lookup

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Reply with quote  #3 
Quote:
Originally Posted by Azsun

Not as far as determining whether to pay or not, but it does affect how much the insurance company will pay if you have an actual cash value (ACV) policy.



I don't think it matters what kind of policy you have.  I should cover the cost of repair minus any deductible.
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Stania

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Reply with quote  #4 
Although I've never heard of it, based on the name alone I can see how an ACV policy could impact payment on an older roof. I'll have to do some research about those policies because it doesn't sound like something I would ever want to have.
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HungryMan

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Reply with quote  #5 
It should be no problem as long as you’re up to date on your premiums.  That’s what you’re paying it for.  You have to be able to use it.


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Michael085

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Reply with quote  #6 
Azsun, Yes that really matters how old your roof is. Also what matters is the shape of roof as well. Check what roof insurance policy you are covered to. Pay your premiums regularly. Some insurance companies refuse to renew existing homeowner insurance policies against your roof. 
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Johnwillingham

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Reply with quote  #7 
Roof insurance policies varies from company to company. Some companies are bounded  to repair your roof even after 30 years at the cost of present material cost and some companies  don't follow such rules. So, it is important for any homeowner to read and understsand the policy thoroughly before taking it. 
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Rick Wolf

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Reply with quote  #8 
A roof is a roof. The insurance will not be effected BUT buying the home can be. Some homes cannot be bought until the roof is repaired as they can be a living hazard.    
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mrkale

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Reply with quote  #9 
Quote:
Originally Posted by Rick Wolf
A roof is a roof. The insurance will not be effected BUT buying the home can be. Some homes cannot be bought until the roof is repaired as they can be a living hazard.    


Spot on! I find that the term insurance is a bit misunderstood when you compare health, auto, and home. Each one does the same thing but has different means of doing so. 
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