I live in Indiana. My homeowners insurance is/was State Farm.
In 2008 we sustained roof damage (shingles only) from a tornado. We submitted a claim, and this was our ONE AND ONLY HO claim. Because our roof was already 20 years old, State Farm would only pay 50% of the estimated replacement cost. This is understandable. We couldn't afford at the time to provide the other 50% for a new roof. Now, June of 2010, State Farm sent us a letter saying they would no longer insure us. Reason? Old roof. Replace the roof, and they'll insure us.
Can they do that? If we had never submitted a claim, they would still be insuring our 22 yo roof. Granted, it's missing shingles on the back side, but they wouldn't have known that. How can they demand an individual to replace something that they only covered at 50%?
Thanks for your insight.
In 2008 we sustained roof damage (shingles only) from a tornado. We submitted a claim, and this was our ONE AND ONLY HO claim. Because our roof was already 20 years old, State Farm would only pay 50% of the estimated replacement cost. This is understandable. We couldn't afford at the time to provide the other 50% for a new roof. Now, June of 2010, State Farm sent us a letter saying they would no longer insure us. Reason? Old roof. Replace the roof, and they'll insure us.
Can they do that? If we had never submitted a claim, they would still be insuring our 22 yo roof. Granted, it's missing shingles on the back side, but they wouldn't have known that. How can they demand an individual to replace something that they only covered at 50%?
Thanks for your insight.