Nationwide tell customers they have to get a new roof, (Nationwide will skin your Hide!!)

[shooter]

Two people I know were telling me that they both received a letter
from Nationwide, that if they don't replace their roof, the homeowners
insurance will be cancelled in 30 days.
One friend had been with Nationwide 30 years home, and auto.
Is this common?
The letter informed them if the roof was over 10 years old it was their
responsibility to replace it or lose coverage.

 

[adjusterjack]

Yes, it's getting common and will get ubiquitous in the near future.

Millions, if not billions of claims money has been spent on roofs that homeowners have let deteriorate for 15 or 20 years until a convenient wind blows off enough shingles for an insurer to be obliged to pay for a new roof because it's a wind claim, when the homeowner should have reroofed his house as a maintenance issue.

Can't say as I blame the industry for resolving that issue.

Homeowners will have to budget for a reroof just like they should budget for other types of major maintenance issues, like water heaters and HVAC.

 

[Al3x Lee]

Nationwide is in a panic right now, getting off policies left and right country wide. Also, don't expect any loyalty from them. It's probably time for them to start looking for a new insurer.

 

[sshafran]

Yes, it's getting common and will get ubiquitous in the near future.

Millions, if not billions of claims money has been spent on roofs that homeowners have let deteriorate for 15 or 20 years until a convenient wind blows off enough shingles for an insurer to be obliged to pay for a new roof because it's a wind claim, when the homeowner should have reroofed his house as a maintenance issue.

Can't say as I blame the industry for resolving that issue.

Homeowners will have to budget for a reroof just like they should budget for other types of major maintenance issues, like water heaters and HVAC.

Yet mysteriously, they were willing to collect premium on a roof in roof age year 21; therefore, when the wind storm hit, they should pay.

I think this is (finally) smart for them to only insure up to a certain age.

 

[fed up]

Nationwide is in a panic right now, getting off policies left and right country wide. Also, don't expect any loyalty from them. It's probably time for them to start looking for a new insurer.

Chances are that any new quote would be dependent on replacing the roof

 

[adjusterjack]

Yet mysteriously, they were willing to collect premium on a roof in roof age year 21; therefore, when the wind storm hit, they should pay.

The premium covers many other things besides the roof. You think the $50 or $100 portion of a homeowner policy that applies to wind is enough to pay for a roof that's 20 years old. That's $1000 or $2000 and roofs cost $10,000 and up.

But, Jack, that's not how insurance works. Of course it isn't. I'm just making a statement that makes as little sense as yours does.

 

[Al3x Lee]

Chances are that any new quote would be dependent on replacing the roof

Not necessarily, it's worth exploring. Plus a 30 day notice is essentially Nationwide telling them they don't want the business.

 

[sshafran]

The premium covers many other things besides the roof. You think the $50 or $100 portion of a homeowner policy that applies to wind is enough to pay for a roof that's 20 years old. That's $1000 or $2000 and roofs cost $10,000 and up.

But, Jack, that's not how insurance works. Of course it isn't. I'm just making a statement that makes as little sense as yours does.

Insurance carriers are some of the biggest entities out there. Separate roof coverage. Or separate wind/hail policies.

I live in NC and my house is .3 miles from intercoastal water. I have to carry a separate wind/hail policy.

It's not rocket surgery. They underwrote it (or they should have). They agreed to cover it. They need to pay for it -- or, better yet, exclude after a certain age - or exclude 3 tab shingles.

 

[ehall2]

The problem is no one is going to insure a house when the roof is 10 or 15 years old except state farm. They lost 14 billion dollars last year but have become a non standard company. When we have someone cancelled or has no previous insurance, state farm will insure them. They have a new CEO, it is going to be interesting to see what he does.

 

[Al3x Lee]

The problem is no one is going to insure a house when the roof is 10 or 15 years old except state farm. They lost 14 billion dollars last year but have become a non standard company. When we have someone cancelled or has no previous insurance, state farm will insure them. They have a new CEO, it is going to be interesting to see what he does.

New CEO be like: