25% rule for insurance coverage contained by replacing your roof?
We just have a hail storm surrounded by our area and our insurance agent claims that lately the back partly of our roof was tattered in the storm. In discussion with a roofer, he said that here was a rule that if the insurance be going to cover more than 25% of your roof, they had to replace the together thing. I'm surrounded by Minnesota. Can anyone confirm or deny this? Any web resources to final this up? Thanks in finance!
Answers:
I have be licensed in MN for years. I enjoy never heard of the 25% rule. I suppose it is no different than the body shops that hold up signs that state that customers are not required by law to attain more than one estimate. The roofer wants to replace your entire roof. Insurance will merely pay for the dog-eared areas. Call the MN Dept of Commerce at 8OO-657-3602 if you want to be absolutely sure.
There is no such rule. Your roofer sounds like he is assuming a rule of some sort because he may enjoy encountered that contained by previous insurance repairs. Your policy dictates what type of coverage you have. THAT is the merely rule.
In other words, there is NO rule which is going to bequeath you an entirely new roof when solitary half of it is dilapidated.
You're getting insurance advice/answers from a roofer? Are you kid me? What the heck does a roofer know about insurance? Common sense dictates this '25% rule' (which by the method no such thing exists). Insurance lone owes to repair/replace a damaged item. If the incapacitate can not be repaired, the insurance pays for the replacement but deducts for depreciation which contained by your case, sounds resembling what they are doing.
So, a roofer told you that since you were going to replace cut of a roof that you had to replace it adjectives? And you believe this? Neither does your insurance company.
OK, first of all, don't seize your LEGAL advice from a roofer.
Second of adjectives, there's no such rule, which is why you won't find any web resources to rear legs it up.
The closest thing you enjoy is "building code" or "building ordinance", but it doesn't have anything similar to the 25% rule you're describing - newly that you're only allowed to put up to three layer of roof on, then you own to tear sour the shingles and put your NEXT roof on the plywood.
You hold to really read your policy. We live in a state near ice storms. We have to shop at great Length to get full coverage on our homes.