What is the new roof law in Florida?
A new Florida law now states that in the event of a storm, if more than 25% of the roof is damaged, the insurance company can determine whether to repair or replace the roof. This allows insurance companies to take the most cost-effective route, which results in savings they can pass on to their customers.
Can you insure a 15 year old roof in Florida?
For example, new laws prohibit companies from refusing to write or renew policies on homes with roofs that are more than 15 years old solely because of the roof's age. They must allow the homeowner to get an inspection to prove a roof has five years or more of useful life.
Do you have to replace your roof every 15 years in Florida?
The money the seller paid for that roof may be warrantied for 30 years in northern states, but here in Florida that 30 Year Shingle Roof still must be replaced by the 15-year mark!
Does insurance cover a 17 year old roof in Florida?
The law prohibits insurance companies from automatically denying coverage solely based on the age of a roof so long as it's less than 15 years old. Similarly, if the roof has at least five years of life remaining, insurers can't refuse to issue a policy.
Can you get homeowners insurance in Florida with an old roof?
And for roofs that are older than 15 years, insurers would have to allow homeowners to have an inspection on the roof's condition before refusing coverage. If the inspection shows the roof has five or more years of useful life left, the insurance company could not reject coverage simply because of age.”
Does insurance pay for a new roof in Florida?
For older roofs, damage is more than 25% of the roof can require your insurance company to pay for an entirely new roof based on current Florida Building Code requirements.
Can I get homeowners insurance with an old roof in Florida?
And for roofs that are older than 15 years, insurers would have to allow homeowners to have an inspection on the roof's condition before refusing coverage. If the inspection shows the roof has five or more years of useful life left, the insurance company could not reject coverage simply because of age.”
Who insures older roofs in Florida?
If your roof is 15+ years old you do have an option through the State of Florida Insurer… Citizens. Citizens Insurance is the state funded insurance company designed to help homeowners find insurance when no private market is able to help. They are referred to as “The Company of Last Resort”.
What is the new law in Florida about roofs?
New legislation requires insurance companies to honor a Certified Inspection instead of a roof replacement. If an inspector certifies a roof has at least 5 years left, the insurance company must honor it. They cannot drop coverage. This is excellent news if you have a long-lived roof system like the Tesla Solar Roof.
Can you get homeowners insurance with a 20 year old roof in Florida?
Some insurers refuse to renew existing homeowner insurance policies on houses with roofs older than 20 years unless they pass a professional roof inspection. Insurers will not renew a policy that fails inspection without a roof replacement.