Category: Personal Insurance

How Roof Age Affects Home Insurance

by Mia Plittin Homeowners Insurance, Insurance Advice, Personal Insurance

Smart Insurance Tips

Homeowners may be surprised to learn that the age of their roof can have a significant impact on their insurance. As severe weather losses and rebuilding costs increase, insurance companies are taking a closer look at the age and condition of the roof when deciding whether to insure the home—or renew an existing policy.  

Here are a few things you should know:

  1. Why Roof Age Matters – Your roof is your home’s first line of defense against wind, rain and hail. As a roof ages, materials naturally deteriorate, making it more susceptible to storm damage and water intrusion.
  2. Underwriting Guidelines Are Getting Strict – An asphalt roof approaching 20 years old may no longer meet a carrier’s underwriting guidelines. Flat roofs can face even tighter restrictions, because of their greater potential for water-pooling and leaks. Wood shingle roofs have stricter requirements as well, due to increased fire and weather-related concerns.   
  3. Requirements and Limited Coverage.  Not all homes with older roofs are ineligible. Some carriers may offer a policy if provided with a positive inspection report from a licensed roofer. Other carriers may require roof replacement shortly after policy issuance. In some cases, a carrier may offer a policy subject to a roof exclusion or settle roof claims on an Actual Cash Value (ACV) basis.  ACV deducts for depreciation, leaving the homeowner responsible for more out-of-pocket costs.
  4. Be Proactive About an Aging Roof. Periodic inspections can identify problems before they lead to a larger loss. Replacing an aging roof will likely result in more insurance options and better coverage.
  5. Documentation Is Important. If your roof has been replaced, keep contracts, paid invoices, permits and warranties, showing the date and type of roof installed. Carriers may require documentation to verify roof age.

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    FLOOD INSURANCE: MORE IMPORTANT THAN EVER

    by Mia Plittin Homeowners Insurance, Insurance Advice, Personal Insurance

    Smart Insurance Tips

    Our rainy summer is a timely reminder that flooding is a growing risk for homeowners and flood insurance is increasingly important. According to FEMA, nearly 30% of National Flood Insurance Program (NFIP) flood claims come from properties in low to moderate flood risk areas. Storms are becoming more frequent and intense.  

    Here are a few ways to better protect your home:

    1. Understand Your Coverage. Standard homeowner policies generally do not cover flood damage. Flood insurance protects against water entering your home from outside at the ground level due to heavy rain, overflowing bodies of water, or storm surge. Interior water damage from plumbing leaks and burst pipes is typically covered by your homeowner policy.
    2. Know Your Flood Zone. Even homes in lower-risk flood zones can experience flood damage. If your property is located in an AE or VE flood zone, an Elevation Certificate may improve your homeowner carrier options and reduce your flood insurance premium. Visit amadengay.com to request a complimentary Flood Zone Analysis. 
    3. Explore Your Options. In addition to FEMA’s National Flood Insurance Program (NFIP), private insurance carriers offer flood policies with broader coverage and higher coverage limits. We can help you determine which solution best fits your property.
    4. Practice prevention. Regularly clean your gutters and drains, and make sure downspouts direct water away from your home’s foundation. The grading of your property should cause water to flow away from your home, not towards it.
    5. Don’t Wait Until a Storm Is Forecast. Flood insurance should be purchased before it’s needed. Most FEMA-backed flood policies have a 30-day waiting period before coverage becomes effective, so it’s

    For more information: 

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