I recently installed a new roof on my house. I sent pics to the insurance company. To my surprise I received about a 12% reduction in my premium for the year. Never expected that. Hopefully it will keep my premium lower in the near future. BTW this is Geico Ins.
Insurance company reduced my homeowners premium
- Thread starter walterjay
- Start date
Had the same happen to me last year with a new roof..
Mercury sent me a notice stating..."An aerial flyover of your property has confirmed that your roof has met its life expectancy and needs to be replaced. In order for the policy to continue, verification that a licensed contractor has replaced your roof needs to be received prior to ..."
I did so, and still got a 20% rate increase. Geico was significantly more expensive, so in the end, I was glad with what I got.
I did so, and still got a 20% rate increase. Geico was significantly more expensive, so in the end, I was glad with what I got.
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It pays to shop around every year...
Wow. In southern California we are seeing a 200-300% increase for no good reason. House or maintenance doesn't matter
I'm in So. Calif., and was happy to get off with "only" a 20% increase (after replacing the roof.) A friend is a semi-retired State Farm broker, and he laughed at my "aerial fly over" predicament. He said I should slam on a new roof ASAP, before the insurance company cancels me outright.
Zee09
$200 Site Donor 2023
The rich get richer.. 
Here on the east coast the no nos are an old roof, dog, wood stove, and trampoline...
Here on the east coast the no nos are an old roof, dog, wood stove, and trampoline...
I just read this on our local news station, some insurance companies are dropping out from Iowa. Due to all the tornados, hail and other weather related reasons. Hope mine is not one of them. Only claim I had with them was hitting a deer 5 years ago. www.wowt.com/2024/05/18/iowans-struggle-find-homeowners-insurance-companies-pullout-state/
Zee09
$200 Site Donor 2023
Geico and Progressive were the same for me.
I float around every two years.
Ironic, since Des Moines is the insurance capital of the midwest.
I'm not sure how they handle metal roofing with no real "expiration date" so to speak.
I know when I switched to a new insurance carrier a year ago, they requested my home's roofing information. My metal roof was 2yrs old at the time and the materials and labor supplied by Amish. Cash. No receipt. Hail damage isn't covered, which I would expect. We don't live in a high wind or hail prone area. Massive snow load yes.
I know when I switched to a new insurance carrier a year ago, they requested my home's roofing information. My metal roof was 2yrs old at the time and the materials and labor supplied by Amish. Cash. No receipt. Hail damage isn't covered, which I would expect. We don't live in a high wind or hail prone area. Massive snow load yes.
I forget what state my insurance company (Amica) is located.
I just know they treated me well, when I smacked a deer with my 4 month old Subaru Forester. I no longer have car insurance, just household and a blanket policy with them, as I no longer drive.
The Subaru was in the shop for about a week repair. The Amica Rep was almost insisting that I get a rental car, which they would cover.
I just said no, I will drive my old pickup to work for a week. Less hassle for me that way, no car rental places in my small town.
I have a colonial but in the back the roof line goes all the way from the ridge over the second story (attic height is about 12') all the way down to the first floor - house looks like a gain multi-level cape in the back. It has a huge sqft plus 6 skylights and just in materials alone it's going to be up there. I'm guessing this is going to cost me at least $50k. I can swing that but what do insurance companies expect people to do who can't just write a check for $50k for a new roof and they are threatening to drop them?
They will drop you or keep raising your rates. However-that is what a home equity line of credit or a reverse mortgage is for. Many on here do qualify for the latter. A reverse mortgage is very often a misunderstood solution.
Yep! Same thing happened to me! Spent $16,000 on a new roof, mandated by insurance co. or they threatened to drop me, and Viola,
got a $240 check in the mail!
What a racket!
got a $240 check in the mail!
What a racket!
Some risks are easier to see when you put yourself in your insurance company's shoes. An old(er) roof is a risk. But why do they raise your rates when you sell one car out of the three you own? Things like that.....seemingly makes little sense.
