Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Notify Insurance Company of New Roof (Amica)?
Old 01-30-2015, 10:23 AM   #1
Thinks s/he gets paid by the post
ExFlyBoy5's Avatar
Join Date: May 2013
Location: Country Living
Posts: 3,295
Notify Insurance Company of New Roof (Amica)?

This is question is being posed to those that might have Amica for their insurance company.

I just replaced our roof with the 50 year architectural shingles. The old roof was at least 15 years old and just worn out. What I am curious about is what has been your experience in regards to telling the insurance company? I have seen that some people had a reduction in premiums whereas other companies have INCREASED the premium since they considered it a "home improvement" (I don't understand this since I would *think* it's just routine maintenance). When my Dad updated his roof, he got a discount (about $50/year) and this was through Cincinnati Financial.

I am also considering installing a check valve at the sewage outlet so I can delete the "sewage backup" rider I have on the policy. It's gone up quite a bit, so I am thinking the valve would better than the insurance itself...but that's another subject.

Retired in 2014 at the Ripe Age of 40
Founder and Head Lounger @ The Life of Leisure Institute
ExFlyBoy5 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 01-30-2015, 10:29 AM   #2
MichaelB's Avatar
Join Date: Jan 2008
Location: lumpen slums of cyberspace
Posts: 29,653
Our new roof resulted in a lower premium, because the new roof met higher hurricane standards.

MichaelB is online now   Reply With Quote
Old 01-30-2015, 11:00 AM   #3
Recycles dryer sheets
Join Date: Dec 2014
Posts: 61
I'd tell them. Roofs over a certain age can get surcharged to keep them insured on a Replacement Cost basis (which you want). It may result in a lower premium.

Also, if a roof reaches a certain age the coverage can change from Replacement Value to Actual Cash Value. This may result in a reduction in premium and your overall premium could go up if you get a new roof and request Replacement Value again, but overall it is worth it. Always opt for Replacement Cost vs. Actual Cash Value if you have a choice. Offset any increase in premium with a higher deductible or remove some small optional riders.
Del Q is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
New roof or no new roof, that is the question MichaelB Other topics 51 05-14-2014 08:18 PM
Title Insurance Company - Does it matter which company issue the policy? Disappointed FIRE and Money 6 02-07-2012 11:02 AM
Early returns on a new metal roof ziggy29 Other topics 21 09-01-2010 11:14 AM
Is there a service that can notify me of emails by text message? thefed Other topics 6 12-30-2007 08:52 PM
New roof and liability insurance kaneohe Other topics 10 08-16-2007 06:45 PM

» Quick Links

All times are GMT -6. The time now is 05:37 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.