You might have received a letter from your insurer recently stating that you are not eligible to renew your homeowners’ insurance policy. This is similar to thousands of homeowners who received it.
What are you going do now?
It’s not as simple as it used be to find another company. All but a few insurers are repelled at high levels of fraud and litigation and refuse to write new business to Palm Beach, Broward, and Miami-Dade counties.
Agents say that the remaining ones will only cover new homes or homes with new roofs.
There are many options available, but they won’t be for you. One option is to sign up with the state-owned Citizens Property Insurance Corp. (the so-called “insurer last resort”). This will make you more vulnerable to a surcharge up to 45% on your annual premium in the event that the company is unable pay claims due to a hurricane season.
You can also buy a policy which will only pay the depreciated cost of your roof, if it is necessary to be replaced. You could save thousands. According to Florida insurance experts, this could soon be the only way you can keep your home insured.
There’s a better choice. Get a new roof if your roof is more than 10 years old.
This will satisfy insurance companies and provide you with the assurance that your safety and financial risk are covered, especially during the rainy and hurricane season that begins in May.
KCG offers free inspections, estimates, and financing options for property owners in St.Petersburg. request a FREE roof inspection and estimate online.
This post was written by a roofing professional at KCG Roofing. KCG Roofing is one of the best roofing companies in Tampa! KCG Roofing has the experience and expertise to replace or repair your roof with quality materials and excellent craftsmanship. All our roofs are backed by a 15-year leak-free guarantee, the highest in the industry. We have been family-owned and operated for over 40 years.