Help! Insurance dropped despite inspector saying roof is New and Good

7 Replies

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?  

we have had this happen a couple of times.

So we opted to exclude the roof in coverage. We can do our own roofs if needed.

The insurance premiums were subsequently reduced significantly, 

@Ian K. roofs have been a hot button for the insurance industry the last few years.  There most likely other insurance carriers in the marketplace willing to do it, you just need to find them.  Keep in mind, even the largest independent insurance agency will not have access to every insurance company.  Call a few direct writers like State Farm, Nationwide and another 1-2 independent agents.  

Good Luck

My insurance was going to expire and not be renewed until I got the roof replaced or fixed on my house. Got a new roof just this past weekend and waiting for the insurance company's inspector to come out and approve. Will now get an annual $96 reduction in my insurance premium because of the new roof. At least in my case, a new roof was needed.

Thanks for all of the responses.  I do intend to call others tomorrow and see.  Do you think it's crazy to be upfront with them given that I have the home inspection report that says it is relatively new and in good condition.  

Thanks again,

@Ian K. do not give the inspection report to the insurance company. They will find something else they don't like. It's my experience that not all insurance companies do inspections on the roof. The ones that I have had done have all been after the closing. Find a different company. Start with the company and agent that currently insures the property.