Insurance company hijinx


#1

I am a first time home buyer, and i’ve been in my house for one month. my home inspection went fine, and it was recorded in that document that i have five-to-seven years left in the life of my roof. now, my insurance company is cancelling my homeowner’s policy pending the replacement and/or inspection of my roof by a qualified roofer. no requirements were given other than the report had to be on a roofing company’s letterhead?!? this seems fraudulent to me. if i had known the roof had to be replaced before i bought the home, i would have bargained with the sellers for its cost, or possibly not bought the home at all. now it’s too late and the insurance company has me right where they want me. has anyone heard of this sort of thing before? i am absolutely insane with worry, because no insurance means no mortgage loan. what can i do?


#2

Don’t panic you just need to call a roofing contractor that will come out inspect your roof and write the letter. We usually charge $100 for this and have done it at the request of customers and real estate agents. Your agent should help you with this. It’s probably worthwhile since home inspectors may not know much about roofing. When we have seen problems (usually minor repairs), we’ve also included a bid so that either the work gets done or the cost is accounted for in the sale. I think the bank probably wants it done.


#3

On further thought since you’ve already taken possesion, if there is significant cost involved I’d ask the real estate agent to explain why this has happened. All the times we’ve been called have been before the sale at the requirement of the mortage company.