Insurance company reduced my homeowners premium
- Thread starter walterjay
- Start date
How long a roof is rated for is extremely subjective. It's like a 50,0000 mile tire. How many get the entire length of the miles? Roofs when they are pushing 20 years old are starting to get brittle. Not saying they will have issues-but they are more brittle than the day the roof was installed.
Yes-I do. Studies and statistics show those with low credit ratings file more claims.
$16k for a roof? I'm jealous.
Well, that is the most likely answer then. I was just wondering.
Last I saw my credit rating was 840, so it makes no difference to me.
But it still seems unfair, if a lower rating person with a good driving record pays more than an old man, that would be a menace on the road such as myself. Gave my vehicle to the Granddaughter, so I am no longer a danger on the road.
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ours is still 3 figures and pretty sure we have $500k liability. From all I’ve read here I guess we’re lucky in PA. Maybe our houses aren’t worth all that much either for replacement cost. Never used homeowners in 21 years…The rich get richer..
Here on the east coast the no nos are an old roof, dog, wood stove, and trampoline...
- Joined
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Mine was always 850 Experian 9.
I paid off the house and applied for a new credit card and it dropped to 803. Almost 1 year later it recovered about 30.
It’s kinda counter-intuitive and ironic that closing a loan hurts the score.
That's a trifecta for sure!The rich get richer..
Here on the east coast the no nos are an old roof, dog, wood stove, and trampoline...
Last I saw my credit score was 2018 when I bought a new Subaru Forester.
They insisted on running my credit, before accepting my check. Whatever, I have nothing to hide.
Probably dropped by now since I retired, but I don't really care about the score. My stuff is paid for and I pay my monthly bills in full.
There are a lot of scams out there where a roofing company shows up cold at your house and promises they can get a new roof on at no cost to the homeowner "due to the recent storm."
I would guess that insurance companies want people to buy their own roofs first, now.
I would guess that insurance companies want people to buy their own roofs first, now.
I have a concrete tile roof, supposed to last 50 years. In fact, the tiles are screwed down with stainless screws, and none of them were damaged in the 3 major hurricanes.
Unfortunately, there have been a handful of minor leaks due to the underlayment deteriorating in the valleys.
Roofing companies are quoting me $54-$60K for a metal roof and up to $72K to exactly replace what is generally in excellent shape.
On my last home build, I considered a zinc roof and wish I went with one.
Yea-I think most of the conversation was centered around composite roofs. The tiles might be great. But the leaks are unfortunate. Nice place BTW. What's causing the underlayment to go bad? Minor leaks? OR-a 50 year roof isn't really one if the stuff underneath the tiles doesn't last 50 years?I have a concrete tile roof, supposed to last 50 years. In fact, the tiles are screwed down with stainless screws, and none of them were damaged in the 3 major hurricanes.
Unfortunately, there have been a handful of minor leaks due to the underlayment deteriorating in the valleys.
Roofing companies are quoting me $54-$60K for a metal roof and up to $72K to exactly replace what is generally in excellent shape.
Premiums for my home built in central TX in 2017 started at a reasonable 320/yr. By 2020 I was paying 550. When they bumped it to 750 in 2021, I called around and couldn't find any offers below 1K. I said "enough" and have been "self-insured" since. Over 4000 saved so far.
No mortgage, no insurance, no problem. I never had a claim, all the premiums I ever paid on this and previous house was money down the drain, er, contribution to corporate profits, fraudsters and other claimants. Zero value for me.
No mortgage, no insurance, no problem. I never had a claim, all the premiums I ever paid on this and previous house was money down the drain, er, contribution to corporate profits, fraudsters and other claimants. Zero value for me.
I have never file a claim in either house or cars. I also wish there was a catastrophic kind of insurance for house.
Let us say, I want to insure my house for a set price 100,000 dollars and would put a claim only if the house burns down or is total loss from a natural disaster. We do have medical plans that work in similar fashion.
The intent is not to replace the house, just removed the debris and sale or give away the lot back to city.
Let us say, I want to insure my house for a set price 100,000 dollars and would put a claim only if the house burns down or is total loss from a natural disaster. We do have medical plans that work in similar fashion.
The intent is not to replace the house, just removed the debris and sale or give away the lot back to city.
The underlayment was "roll roofing with granules" and simply unable to withstand the water flow under the tile, in the roof valleys. Over time it deteriorates into mush.
I'm not at all convinced they used the highest quality products. Although when it was being built, it did look like the job was done well. The roofing materials under the normal sections of roof look fine.
Triple_Se7en
$50 Site Donor 2024
Interesting thread.
Next time I shop roofing I'll ask about the level 4/class 4 rating.
Next time I shop roofing I'll ask about the level 4/class 4 rating.
I had my Homeowners Insurance co. hound me about my roof age and also a fairly long list of niggling items. They had a subcontractor that sent out a subcontractor of their own to snoop around when I wasn't home. That was about 5-6 years ago. I addressed nearly all the small items and stalled them off on the roof. It was likely approaching 30 years age at the time. I was told to leave them know when it got replaced. Meanwhile, rates kept increasing to the point where they had nearly tripled in 20 years. Fall of 2023, I finally got a new roof. Just a tad over $15k. Majority of the surface was a new "rubber" EPDM roofing with a lot of other shingled surfaces. The shingling was the larger time eater by far. An Amish crew did the job in 2.5 days.
I did contact my homeowners ins. agent and got their new roof form for premium adjustment. Proof of billing/payment was required. It did reduce my annual premium about 12%. I was about 3 months into an already paid coverage year, so they owed me a refund for the rest of that year. That was a bit like pulling teeth and it took more than two months and several phone calls. When I renew in July, I almost expect that the premium will go up well past what it was before the new roof.
I did contact my homeowners ins. agent and got their new roof form for premium adjustment. Proof of billing/payment was required. It did reduce my annual premium about 12%. I was about 3 months into an already paid coverage year, so they owed me a refund for the rest of that year. That was a bit like pulling teeth and it took more than two months and several phone calls. When I renew in July, I almost expect that the premium will go up well past what it was before the new roof.
