I have noticed that you can’t just keep a roof forever plus expect insurance to cover your home, and i own two rental properties plus the topic of roofs keeps coming up… Apparently if a roof is over 10 years old, you beginning getting concerns from the insurance companies.
I had to call all over plus talk to unusual insurance providers in my state.
I got multiple roofers to take a look at my rental dwelling roof. The men all agreed the roof was good. I did have one roofing company that tried to sell me a roof, but he did admit it was in good shape. Anyway, I had them inspect the spray foam roof plus tell me all was good. I had at least another ten years on it. It took a lot of messing around to find an insurance corporation that would give me a break. A up-to-date roof isn’t exactly cheap. It is also quite invasive… Not only would I be out the cost of a up-to-date roof, but I couldn’t rent my unit while the building was going on. I would be losing a lot of money on roofing when I don’t even need it. I refuse to pay for something I don’t need, especially when it is so fancy! My rental doesn’t make that much money per year. If I factor in a up-to-date roof, the rental doesn’t even break even for me when it comes to expenses plus upkeep. I have thought about getting rid of my units because of roofing related insurance complications.