A rise in hail and wind damage claims has led to some broad-based changes to homeowners insurance policies, specifically related to roofs. Here are a few important trends that every homeowner, buyer, and seller needs to be aware of: 

1) Premiums and deductibles are increasing. 

2) Reimbursement is moving toward a depreciated value model, resulting in smaller payouts for roof claims. 

3) Most insurance companies are no longer insuring homes with roofs that are 20 or more years old. Some companies are refusing to insure roofs that are 15 or even 10 years old. 

If you are planning to buy or sell your home in the near future, please call us to discuss how changes in the insurance industry could potentially impact your real estate plans. As always, we are here to connect you with reputable insurance providers who will thoroughly cover the ins and outs of your policy with you. Working with a local, service-based provider will help you avoid unnecessary and costly surprises down the road.