Hi All! I recently moved out of my first home and got some renters in the home. I switched my policy from homeowner to a landlord policy, and the insurance agent told me the company would be sending out someone to visually inspect the home. The inspector dude says it needs a new roof, which in the Pensacola area costs around 8k for a house my size.
Has anyone run into this issue? I asked the insurance agent to shop around for another policy in hopes that another company won't do the inspection at all or will just require some inexpensive repairs. I have the cash for a new roof but would rather not pay the expense.
Is it worth it to shop around or should I just fork over the cash?
It's worth it to shop around but you may not get a different answer. We have T-Lock shingles in our area and they're so prone to failure that insurance companies have stopped insuring them, forcing roof replacements. Be prepared to bite the bullet.
Had the same thing happen to me with a portfolio purchase. Got hit with a new roof requirement in month 2 of acquisition. Since this is the only property out of the whole portfolio that was flagged, we decided to bite the bullet and stick with the coverage. In your case, since it is only one property, I might be inclined to get a second opinion. Fortunately, I haven't seen the nit-picky requirements that @David S. has.
Ultimately it is up to being honest with yourself on whether the roof needs replacing. A solid roof in a wet place like FL might be good for some peace of mind.
If you are in need of a roofer, Call HE Roberts (They are out of Milton). They are the best price I have been able to find and have done a great job for our flips.
You'll need a 4pt inspection for insurability and wind mitigation inspection to get the best rates. That's across the board. If the roof is older than 15 years, then inspectors are going to say it needs to be redone. Doesn't matter if its built with 30 year shingles.