I have an 11 year old roof and am thinking of installing solar panels soon. I will self-pay to get the shingles below the panels replaced during the process, so that I don't have to deal with dettach and reinstall in 9 years when I have to do the rest of the roof; ideally the solar panels won't need to be touched for another 20.
How does insurance value the age of the roof in this scenario? Right now, they think I have an 11 year old roof and value my policy accordingly. I don't really care about them valuing the new shingles as new, but I'm concerned that in 10 years when I go to replace the other shingles, they'll say you didn't replace the whole roof so we're going to value the entire roof as still 10 years old.
What's the best way to approach this? Can they value roofs that have certain sections with specific ages?
Further curve-ball: what if I elect to get a standing seam roof below the panels, and leave the rest of the roof as shingles? The metal roof should last 50 years (ideally…) but then they might say again in 10 years that they don't consider my roof to be new, even if I just put 30 years shingles on 2/3s of it while the standing seam section is metal and is effectively ever-lasting.
Partial roof replacement self-paid to install solar panels. How will insurance value/age the roof?
byu/craj1031tx inInsurance
Posted by craj1031tx
1 Comment
“Hi Insurance Agent, I have a question for you…” Best to not guess at this. These are the sorts of questions best addressed by your agent who knows your policy and your carrier and your area. If you don’t have an agent, oh well, random redditors may have to do.
But the bottom line is if there’s an issue and your roof needs repair or replacing, they’ll assess everything at the time the loss occurs. Keep all your records and receipts. You’re unlikely to get any sort of firm answer about potential valuation scenarios for a loss that could occur a year or a decade from now.
Also, you should let your carrier know you’re adding solar panels, especially if you own them. There may be a premium increase due to adding five-figures of equipment to your home. You should also check your policy’s requirements regarding reporting significant changes to the structure.