Northeast Nebraska and Candelaria Philippines | Farmer087 - 8/26/2024 14:47
Here they told me rebuild costs on our small 900sqft rental in town is over 300k! (Bought for 60K). Our old farm house (different insurance company) is close 500k rebuild apparently.
Every time there is any whisper of hail within 5 miles I get calls from roofers wanting to do an estimate. Enough folks take them up on that and it'll jack up rates for everyone!
The insurance system is broken when it comes to roofing.
A few years back, we had hail in our town. There were some 1 and 2 year old roofs that got hail. Insuance company paid to reshingle it. Then there was hail again the next year, they paid again.
The roof that got the hail on it the first time, would have easily lasted 5 to 10 years.
The insurance industry forces you to replace the shingles to get paid. What they should do is pay you for the roof, and let you do what you want with the money. If you want to wait a few years to replace, it shouldn't be a problem.
Whatever the case, massive waste that year. |
My farm property insurance has taken a 72% jump!
