Can You Still Get Homeowners Insurance if You Have a Bad Roof?

Key Takeaways

• Homeowners insurance is still possible with a bad roof, but expect higher premiums and more conditions for approval.
• The age, material, and condition of your roof all influence your eligibility and the cost of coverage.
• Providing documentation of roof repairs, maintenance history, and material details can strengthen your insurance application.
• Different types of homeowners insurance policies (HO-1, HO-2, HO-3) offer varying levels of protection, and your roof’s condition may impact which coverage is available to you.

Homeowners insurance is an invaluable protection against various types of loss. These include fire, storms, and break-ins.

One common underlying reason for those who lack it is that their home needs significant repairs, and a bad roof is a major red flag for insurance companies. This does not mean it is impossible to get a policy, but it depends on several factors. The good news is that once you understand those, you can better navigate the application process.

Keep reading to know how to get homeowners insurance with a bad roof. This article covers the variables to consider and strategies for getting coverage.

Do Not Panic

Do not worry if your homeowners insurance has been canceled due to the condition of your roof. Even if your roof is exceedingly old, damaged, or dilapidated, there are options available to you. Keep in mind that finding the right insurance policy requires patience and diligence.

Assess Your Roof’s Age and Condition

One of the first things to consider when determining how to get homeowners insurance with a bad roof is its age. Most insurance companies will consider an asphalt shingle roof “old” if it was put on more than 15 or 20 years ago.

This may not be the case for other materials. Metal, tile, slate, and clay roofs are meant to last much longer, sometimes up to 100 years. If you have a roof with one of those materials, regardless of its shape, you should include this information in the policy application.

Beyond sheer age, assess any preexisting damage or general wear and tear on your roof. You might even get a quote from a professional roofing contractor. They can take pictures and give you a better idea of how much the roof has deteriorated and its current value.

Gather Information About Repairs

Regardless of the condition your roof is in, gather as much information as you can about any regular maintenance or repairs that have been made. If you are in the process of buying the house, ask the previous homeowners.

You also might want to do a little research into the brand of shingles. Like other products, there is a wide range in quality and durability. Any information you can offer demonstrating increased value in the roof can bolster your application.

Know Coverage Options

If you have a bad roof, you should expect to pay higher premiums for homeowners insurance coverage. Rates may be more than 50 percent higher than typical homeowners insurance premiums. This could impact the level of protection you get.

There are many different homeowners insurance coverage types. Only three main categories pertain to homes (vs. condos or renters): HO-1, HO-2, and HO-3.

These demarcations correspond to levels of coverage, with HO-1 being the most basic. It covers only the main building of your home and attached structures, like garages and home furnishings (like carpet and some appliances). It also covers most weather events, vandalism, theft, and other categories.

HO-2 is a broader policy that covers everything in HO-1 plus your personal possessions. It also adds a few causes of damage that HO-1 lacks, like freezing pipes or damage from electrical currents. It also includes weight from ice, snow, and sleet.

HO-3 is the most comprehensive option. It covers everything listed above but compensates you for living expenses and medical payments resulting from the damage. It also adds a few incidents.

The level of coverage you seek is important because it could mean the difference in approval or denial. For instance, an insurance company may be reluctant to sell a homeowner a policy that covers damage from the weight of snow if the roof is leaking or deteriorating.

Understand Coverage Conditions

Remember that homeowners insurance companies will use the “actual cash value” formula to calculate how much they will pay for your roof if further damage occurs. This is the value of your roof equal to the replacement cost, minus depreciation.

It is essential to understand that you will get a brand-new roof if it sustains damage from a storm the day your policy goes into effect. The insurer will assess the worth of your roof and then pay out that amount (minus depreciation) if a disaster occurs.

Learn More About How to Get Homeowners Insurance With a Bad Roof

Now that you know how to get homeowners insurance with a bad roof, you can find a policy today. An experienced insurance agent can advise you further on the right steps to get coverage for your home and budget.

Founded in 1922, McMahon Insurance Agency has more than 100 years of success in meeting clients’ insurance needs. In addition to homeowners insurance, we offer auto, flood, and life insurance and many specialty policies for renters, condominiums, and group health plans. Reach out to see how we can help you today.

Frequently Asked Questions

1. Can I get homeowners insurance if my roof is over 20 years old?

Yes, though it may be more challenging. Many insurers consider asphalt roofs over 20 years old high-risk, but roofs made of materials like metal or slate may still be eligible. Be prepared for higher premiums or limited coverage.

2. What type of documentation helps when applying for homeowners insurance with a bad roof?

It’s helpful to provide repair records, recent inspection reports, photos of the roof, and details about the roofing materials. This information gives insurers a clearer picture of the roof’s current condition and maintenance history.

3. Will my homeowners insurance pay for a new roof if my old one is damaged?

Policies usually pay based on “actual cash value,” which is the replacement cost minus depreciation. This means you are unlikely to receive enough to cover the full cost of a brand-new roof unless you have replacement cost coverage.