Roofing Contractors and Insurance
I am a new investor with two properties now. My strategy is to buy a value add primary and then rent out after a year.
My current primary, which I have been in since last October, is in need of a new roof. I am currently taking bids on a new roof. I have access to loans at 2%.
I have had multiple contractors tell me that my roof will be eligible for an insurance claim due to shingles with storm damage. My shingles are no longer produced thus my insurance company will need to do a complete replacement. According to what I have found online that part is true. My concern is what will happen to my future insurability or insurance cost increases if I go this route.
Any thoughts would be greatly appreciated