How Roof Woes Are Leading To Insurance Non-Renewals

Imagine the sinking feeling of opening your mailbox and finding a non-renewal notice from your homeowner's insurance. This isn't just a hypothetical scenario for many Georgians and other residents around the country. It's a growing trend linked to concerns about roof condition. Now, these homeowners face the challenge of understanding their options to retain coverage and protect their most valuable investment.

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Why are Insurance Companies not renewing?

While age can be a consideration, Georgia law prevents insurance companies from denying renewal solely based on a roof's age. However, the overall condition of the roof remains a valid reason for non-renewal.

Insurance companies are becoming stricter about insuring homes with older or damaged roofs. This is due to several factors:

• Increased Risk of Claims: Damaged or aging roofs are more susceptible to leaks, wind damage, and other issues that can lead to expensive claims for the insurance company. By not renewing policies with roofs in poor condition, they aim to minimize their risk of having to pay out large sums in the event of roof-related damage.
• Rising Repair Costs: The cost of materials and labor for roof repairs and replacements has been steadily increasing. This means that even a minor roof issue can become a costly expense for the insurer. By not renewing policies with older or damaged roofs, insurance companies can avoid the potential for paying out on these high repair costs.
• Preventative Maintenance: A well-maintained roof is less likely to experience problems down the line. By not renewing policies with roof concerns, insurers are putting pressure on homeowners to stay up to date on maintenance and address potential issues before they become major problems. This can save them money in the long run and reduce the risk of future claims.
• Roof's Age:  Insurance rules are changing. Roof age is now a major factor in policy renewals. Don't be caught off guard by non-renewal due to an aging roof. Claiming storm damage swiftly within half a year is crucial. Delays can lead to claim rejection and even policy cancellation. Plus, the days of the "two-check" method for roof claims are over. For roofs older than 15 years, insurance typically covers only Actual Cash Value (ACV). Protect your home with a Replacement Cost Value policy without roof exclusions. Secure your coverage today.

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How Insurers Determine Roof-Related Non-Renewals

In some jurisdictions, insurers are increasingly relying on advanced technology to assess roof condition during policy renewals. Satellite imagery and drone inspections are being used to scrutinize roofs for signs of neglect, such as algae, granular loss, stains, or normal wear and tear. These visual indicators of poor maintenance could lead to policy non-renewal unless homeowners address the issues promptly.

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What to do after receiving an insurance Non-Renewal Notice

• Don't Panic: Talk to your insurance agent and inquire about the specific roof concerns your insurance company has. Being equipped with this information will help you determine how to best take action towards having your policy renewed.
• Get a Roof Inspection: Have a qualified roofer assess your roof's condition. A thorough inspection can also provide a detailed report with proper documentation of your roof’s current condition to help with addressing the insurer's concerns.
• Address Repairs: If repairs are necessary, work with a qualified roofer to have them performed promptly. Keep thorough documentation of the repairs to submit to your insurance company.
• Shop Around: If all else fails and your current insurer won't budge, then it’s time to shop around. Be prepared to answer questions and provide documentation about your roof's current condition.

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Conclusion

Understanding the factors influencing insurance renewals empowers homeowners to take proactive steps. Regular roof inspections, thorough documentation, and diligent maintenance are essential for safeguarding your coverage. Should you face a non-renewal or need roof replacement, we're here to assist. Our team offers expert guidance and solutions to Metro Atlanta and North Georgia homeowners. Let's protect your investment together. Contact us today for a consultation.

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