Another to-do over the winter: pray for a terrible hailstorm.
That's how I got a new roof anyway.
Well, in my case I didn't pray for it, it just happened, but you know what I mean. All your neighbors will get new roofs too.
Except the policy each individual homeowner is paying for determines this, not what each of us thinks is "right."Sorry, that's ******** and part of why premiums are going up everywhere.
If your roof is at 86% of its useful "life" and has some obvious structural issues it should not be covered by insurance if a hail storm comes through.
I totally agree with all of the above!!Sorry, that's ******** and part of why premiums are going up everywhere.
If your roof is at 86% of its useful "life" and has some obvious structural issues it should not be covered by insurance if a hail storm comes through.
I have acv on several things, I'd have to look and see if the roof is one of them. Keeps the premium lower.Except the policy each individual homeowner is paying for determines this, not what each of us thinks is "right."
How do I know? I just learned the hard way after a hailstorm and roof inspection that I didn't have the policy I THOUGHT I had. I have an optional rider that I didn't ask for when I bought the policy that allows the insurance company to pay a prorated amount of the replacement cost. This is known as Actual Cash Value (ACV) coverage.
If I hadn't been sold that rider, the law in my state requires Replacement Cash Value (RCV) coverage, which is what most people think they have - If my roof is damaged in a storm, and I need a new roof, I get a new roof.
My specific insurance company is extra sneaky. They call this rider "extended coverage" which sounds like a good thing, doesn't it?
I don't begrudge anybody who's been paying thousands every year for homeowners insurance the opportunity to finally make it pay off. If you're worried about premiums going up, let's talk about the average of $17Billion/year over the last 5 years that my insurance company has reported in profits. I'm a free market guy, but cripes... there's your premium increases.
In Minnesota many insurance companies are switching to actual cash value for roof replacement. They are also increasing deductibles for wind and hail damage. My insurance went to actual cash value plus a $2,500 deductible for wind or hail. The deductible applies to any damage to the house from wind or hail.Except the policy each individual homeowner is paying for determines this, not what each of us thinks is "right."
How do I know? I just learned the hard way after a hailstorm and roof inspection that I didn't have the policy I THOUGHT I had. I have an optional rider that I didn't ask for when I bought the policy that allows the insurance company to pay a prorated amount of the replacement cost. This is known as Actual Cash Value (ACV) coverage.
Have no idea what metal roofs are going for but the Architectural shingles seems to be in the right ballpark. I'm assuming about 19 squares on the roof?I'll be nice and give you the sticker shock now. My 1700sq ranch I had quoted 3 ways 1) Architectural shingles $10-12k, Pole barn style sheet metal $20-24, standing seam $23-26, steel shingles $34 -38, what I wanted as they looked like slate but unless I hit the lottery it's really hard to justify.
That was strip, replace sheathing only where needed.
Once you price out that option you might have to sit down for awhile.UPDATE:
I may go with a shingle-look metal roof but ultimately it will come down to price.
I'll be nice and give you the sticker shock now. My 1700sq ranch I had quoted 3 ways 1) Architectural shingles $10-12k, Pole barn style sheet metal $20-24, standing seam $23-26, steel shingles $34 -38, what I wanted as they looked like slate but unless I hit the lottery it's really hard to justify.
That was strip, replace sheathing only where needed.
