We have a winner, housing prices are rising, for full replacement rates have to keep up with the market.
Insurance
- Thread starter Dan the man
- Start date
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Dan the man
Well-Known Member
I have full replacement valve on my home. But the insurance companies are covering roofs differently
GAF lifetime roofing system, my mistake 130 mph not 150. lol
Pays now or pays later, I paid.
diymirage
HP@idle > hondaHP@redline
I dont know, i got farmers and i love them (i got a few contractor buddies to and they love em because they dont mind covering stuff)
over the last 7 years or so, they put a new roof on my house (somewhere in the 20K range) they fixed a water issue from an overflowing bathtub, that was flooring on 2 levels of the house, as well as some drywall work, just shy of 40K, they my buddies fence i plowed through (dont ask) at 17K, they forked out around 8K to fix a sewer line that broke (actually was less then that, but they let me pocket the change) and they bought my wife a new car at 8K
the new car was the only one where they needed some guidance in what it was worth, their original comps were in the 4K range, but after i explained to them i needed an AWD charger, not just a 2 squealer they came around
yeah, im just shy of 100K, i aint complaining one bit
over the last 7 years or so, they put a new roof on my house (somewhere in the 20K range) they fixed a water issue from an overflowing bathtub, that was flooring on 2 levels of the house, as well as some drywall work, just shy of 40K, they my buddies fence i plowed through (dont ask) at 17K, they forked out around 8K to fix a sewer line that broke (actually was less then that, but they let me pocket the change) and they bought my wife a new car at 8K
the new car was the only one where they needed some guidance in what it was worth, their original comps were in the 4K range, but after i explained to them i needed an AWD charger, not just a 2 squealer they came around
yeah, im just shy of 100K, i aint complaining one bit
Dan the man
Well-Known Member
What do they cover for hail damage?
Yunick13
2 Time FABO NASCAR champ 2023 FABO NHRA champ
With as many idiots on the road, and the price of building materials, nothing surprises me as far as insurance rates. Mine went up because I raised my coverage to compensate for the price increases. It'd suck to be underinsured.
Dan the man
Well-Known Member
Here in Missouri the insurance companies are not offering full replacement value for a roof that's over 10 years old. I got that information from my insurance company today. At 15 years old some are offering a extended policy for roof coverage and over 20 years old no coverage. I don't know how it is were you are but that's how it is in Missouri
Dan the man
Well-Known Member
Is this as of 2023? Reason I'm asking is because I talked to a few other insurance companies trying to get a better rate and they all are saying the same thing as far as coverage for a roof. Reason's I'm being given is due to the hail and wind damage that we've been having.
Dan the man
Well-Known Member
I'm not happy right now. I called another insurance company and they do actual replacement cost of a roof with no age limitations. The one thing that they did say is that they only pay for what part of the roof is damaged, so you could wind up with only having a section of your roof replaced but we all know that if it's hail damage that it's going to be all replaced now wind damage may be another thing. But the point is that I was lied too and I just renewed my insurance if the company I called this morning has a better rate for my home owners insurance I'm going to change insurance companies. They were only about $84 a year different on the vehicles but if it's a good savings on the house I'm changing insurance companies.
like_A_pike
that's not factory
I was quoted $1200 a year for basic liability insurance for orange car! They understood No winter driving and < 5k miles a year. HALF of the premium was for “uninsured drivers”. Couldn’t believe it; they want me to pay mine AND a losers insurance for them?.
Our 2 cars and house went up nearly twice last years inflation so we bumped up our deductibles to hold it flat(ish). Goin shopping if it goes up again!
Our 2 cars and house went up nearly twice last years inflation so we bumped up our deductibles to hold it flat(ish). Goin shopping if it goes up again!
Dan the man
Well-Known Member
Just got done with getting a new insurance quote and I would only be saving $94.32 a year.
Im in Illinois just east of st louis. The company I work for handles Missouri and many other states. We offer full replacement. Older roofs are done on initial inspection. If the roof is damaged then let's say it's 10k to replace it. But your roof is depreciated accordingly on initial payment. Once the repairs are completed the rest is reimbursed from the depreciation. This deters people from cashing out.
Dan the man
Well-Known Member
The insurance company that I talked to today has 100% replacement for roofs requardless of age as long as it's in good condition but there wasn't any savings
you can always gamble on the house and drop the insurance for a year 
(assuming it's paid for...)
(assuming it's paid for...)Dan the man
Well-Known Member
It's paid for, but that's to much of a gambleyou can always gamble on the house and drop the insurance for a year
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