My home insurance company is terminating my policy because I need a new roof?

Question by Sky I: My home insurance company is terminating my policy because I need a new roof?
My home insurance company sent me a letter saying they are going to terminate my policy in few weeks because the roof is worn and needs to be replaced, but I bought my house a year ago and it passed inspection and my inspection paper says i have 3 to 5 more years left on my roof so i don’t understand why or how my home insurance company can just terminate my policy. By the way the home insurance company is TRAVELERS if that helps.

Best answer:

Answer by Paul in San Francisco
Your home insurance company can terminate your policy for pretty much any reason. In your case, they have chosen to terminate because from their point of view, you are at risk for needing a new roof and damage to your roof can occur by a windy day or heavy rainfall. Contrary to what most people think, insurance companies are in the business of selling insurance policies and collecting on the premiums. They are not in the business of paying out claims. The fact that your inspector says you have 3 to 5 more years left on your roof is not something your insurance company cares about. All they care about is that in their eyes they may have to pay for roof repairs at some point in the near future. How does Travellers know the condition of your property? Did they send someone out to look? Do you live in a tornado or hurricane area? If you read your policy, chances are you’re not even covered for damage to your roof due to things like tornados, hurricanes, etc. Also, 3 – 5 years left on a roof is not a long time — It would be better to make repairs or replace the roof now instead of deferring maintenance after it’s already too late. I say you shop around for a new insurance company, get your roof fixed/repaired/replaced and look at it as the price of owning your own home. It sucks, I know, but that’s the way it is. Good luck!

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