So I just bought my first home. I bought if BECAUSE of how good the home inspection went. It went really well. Specifically I was told I wouldn't have to worry about buying a roof for 5 - 10 years as the roof is only 14 years old.
Right as I moved in, I get a letter from the Insurance Company (Progressive) saying that they came to my house and decided the roof needs to be replaced or they will not renew my policy come April 2nd, 2019.
Which means I have this summer because you cant replace a roof in Wisconsin once the weather turns.
I am totally screwed. Had I known there was a mandatory roof replacement I wouldn't have bought the house.
I called the home inspector and the realtor and they were both shocked.
Home inspector assured me that the roof does not need to be replaced and that I should find a different insurance company.
I called All State, same thing. They said they inspect 100% of the roofs but only AFTER I sign with them. I asked if I could pay for them to inspect the roof before I sign, and they said they could not do that in the state of Wisconsin. They basically told me they would do what Progressive did.
So, I have learned that my roof does not need to be replaced. But if the insurance company decides they don't want to insure the roof, they can force you to make a $5k - $10k purchase with no appeal process.
Insurance Companies (at least the big ones) won't even agree to look at the roof to determine whether its an issue until after I buy their policy.
This seems super predatory!
What do I do?
Submitted May 02, 2018 at 05:55PM by Kesilisms https://ift.tt/2HJTtbA
