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Jimbo1004

New member
What is the name of your state? Maryland

We have had 2 home insurance claims in the past 2 years - 1 for 34K (Water damage from Plumbing issue) and 1 for 5K (stolen property) Now we have had a terrible wind storm and it has blown off shingles and damaged the roof. Roofer says we should replace the roof it 18 yrs old. Our insurance company says if we make the claim, they will most likely cancel our insurance. What are our options? can we search for new insurer before making a claim? Should I look to insure the house under my name given the current policy is with my wife's name before we got married? Or should I eat the cost and pay for the roof? Or what other choices might I have?
 


FlyingRon

Senior Member
The insured is going to have to be the owner of the house. Note that if your house is financed, failure to carry insurance is a requirement and if you let it lapse the bank will obtain insurance for you at a very high rate and charge you for it.

In this case, I'd not make a claim. First off, you're not getting much money anyhow. Are we talking a shingle roof? If so, it's probably close to if not beyond it's useful life even without the storm damage. Your insurance isn't going to make you better off than you started by paying for an entire new roof to replace one that was unserviceable before the storm.

I'd recommend getting multiple estimates and references from other contractors. It's always a good idea to be wary of those who show up right after a storm looking for a quick buck from the homeowner and their insurer.

You can't just "put the policy" in another name. It has to match the owners of the house. This doesn't mean you can't shop around for a better policy. You might consider a higher deductible.
 

adjusterjack

Senior Member
Our insurance company says if we make the claim, they will most likely cancel our insurance.
Is that a claim rep telling you that or your agent. If it's a claim rep, that illegal. If it's your agent, he's an idiot for telling you that, though it's probably true that you'll get non-renewed with a third claim.

A new roof could cost you $10K to $15K.

If your current HO insurance gets non-renewed, you'll pay more for new insurance for about 3 years and then qualify for better rates. Meantime, any increase in rates will be a fraction of the cost of a new roof.

Your insurance isn't going to make you better off than you started by paying for an entire new roof to replace one that was unserviceable before the storm.
That's not correct. If the HO policy is written with Replacement Cost then the insurance pays for a new roof to replace the old roof. HO insurance is rarely written without Replacement Cost coverage.

Of course, it depends on how many shingles got blown off or damaged. After 18 years all of the roof shingles are likely compromised by the storm and will need replacement.

can we search for new insurer before making a claim?
You mean make the claim with a new insurance company for damage that occurred before taking out the policy? And what do we call that, class? Right, insurance fraud.

Should I look to insure the house under my name given the current policy is with my wife's name before we got married?
That's not going to work either.

Or should I eat the cost and pay for the roof?
Depends. If the whole roof needs to be replaced, get your insurance company to pay for it if you have Replacement Cost coverage. You'll come out ahead in the long run. If you can replace shingles here and there for less than a thousand or so, do it and hope you get a couple of more years out of the roof until the old claims fall off the experience period.
 
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