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Ian K.
  • Real Estate Investor
  • Denver, CO
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Help! Insurance dropped despite inspector saying roof is New and Good

Ian K.
  • Real Estate Investor
  • Denver, CO
Posted Jul 29 2015, 15:51

I just purchased a new home with the intentions to rent it for a few years.  I had it professionally inspected and they found the roof to be "relatively new and in good condition".  I just heard from my insurance company that they won't lend on it because they say there is too much wear and damage.  I've got about 5 weeks to either get new insurance or to get a new roof in the Denver area?  What would you do.  In my completely unvalidated opinion the roof has about 5 years left, I can see wear but I think its excessive to say that its not insurable.  Too bad my opinion doesn't matter.  My insurance rep said that most Denver insurance companies use the same inspector service so its likely that they will see that a previous inspection or send the same person back out.  

What would you do?  

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