I've been living in the same house for 20 years . When we bought it , we were told the roof was just redone , and it looked like it. Recently I found a packet of old shingles in the attic , which I assume was those stuff they used on the roof and it said it was a 40-year shingle.
About 3 years ago we had some shingles come off after a tree hit the roof during a storm, had a roofer go up there and replace the shingles that fell off, they were on the Ridge and they also showed some damage from squirrels, and when the roofer was up there they said that the shingles had seven or eight more years left in them , no reason to do anything else, not knowing at the time it was a 40-year shingle.
So we're probably going to be selling this house the next year or two , I keep on reading stories about insurance companies not insuring 20-year-old roofs , is that still the case if the roof has 40-year warranty shingles on it?
When I purchased the house, we did not get any paperwork about the roof , I have a feeling that makes the situation more complicated.
With the new buyers have a problem getting insurance on my house due to the roof being 20 years old, even though it's only theoretically halfway through the shingles life?
Posted by ironicmirror
7 Comments
Yes and yes. Their options will be limited if financing with a traditional mortgage. Most insurance companies will only cover roofs of that age with “ACV” and it will not meet lending guidelines.
The inspector will note it and the buyers are going to want it replaced. You might as well plan on getting it done before you list it.
Shingles may last 40 years, is the company that made them, are they still around? What about the roofer? What about the underlying material, nails?
You can replace your roof, but the willingness for a buyer to pay is a big question mark. Sure, it has value, but it doesn’t add “bling” if it’s a huge expense and you can’t do it then look for a buyer that is willing to take it on
Coastal states is usually 15+ years is an issue for insurance.
FWIW I’ve always heard to expect about 1/2 of whatever is labeled…it’s marketing not realistic lifespan.
Unless you have documents of a transferable warranty, all you have is a 20 year old roof.
Even if these are 40 year shingles, the warranty is for manufacturing defects and not normal wear or other external damage. Most manufacturers have gone from 20-30-40 year shingles to lifetime limited warranties. Common claims show up either in installation or within the first two years. After that for a warranty you likely need to have had a certified installer and show the whole system of starter strip, hip/ridge shingles, underlayment and such were all used.
Even then, like Salt Sound said, insurance won’t care.
Congrats on getting 20 years in! In my parts, nobody makes it that long between hailstorms.