Cost of roof

About the only variable - other than whether it's high tide in the Port of Boston - you didn't put in here is whether or not it's a tear off.

You simply have too many variables to get a meaningful estimate.

Suggestion? You have a twenty year old roof. Call a couple of roofing companies and get a free estimate.

I suspect that you have mis-understood the coverage - no offence .. I suspect that they pro-rate the roof repair/replacement - only when it is the subject of the claim - ie wind damage ; tree branch ; but if the claim is for the whole house - - the shingles would be treated like everything else - otherwise they would be pro-rating your siding, plumbing, flooring, fixtures, etc etc I'm not an insurance person - just trying to use common sense - I suggest you double check this detail with a good broker.

ps: they DO drive by and take-a-look - and probably take photos - before signing on new or suspect policies - .. when our old dumpy family home passed to my eldest brother -

- they made him install a rail on the 50 year old step/landing ; and install an outdoor GFI receptacle for the block heater - which happened to be plugged in - through a window - when they drove by for their inspection .. I'm not sure how well-trained the insurance "inspectors" are - they didn't mention the big branch - hanging over the house - from the neighbours ancient white birch tree .. ... we looked after that afterwards. .. nor the big 100 year old spruce tree hanging over the other neighbours house ... dunno .. John T.

I live in south Texas and have had new roof and big tree removable done. Get bids from some of the smaller contractors. I got a good job done for half of what the big companies charge.

The best answer is going to come from a local contractor.

Home Depot's contractor quoted $10,000. A local roofing-only firm that's been in business for decades quoted $4,500. It definitely pays to shop around. Might have found someone even cheaper but preferred to do business with someone who was likely to be there for warranty work.

I'd say between 5k and 10k. Cheap shingles or high grade 40 year? Venting? gutters? In the case of a fire they probably would do tear off. Wind damage they my depreciate but I realy don't know for sure.

I think what you really need is a better insurance agent. In 54 years of home ownership I never had to go through all of that.

The best starting point in any project is to make an estimate yourself.

Start with the outside demention of you house divide the gabled end by two and calculate the area of the roof using trigonometry. Add a couple

of feet to the dimensions for overhangs, and calculate the area of the ro of.

Once you have the total area of he roof, go to a web site like Lowes, and find the cost of the shingles and the "Tar paper" equivalent of what

they are using to day.

Using these numbers calculate the cost of materials to do the roof. Double it to put in a cost of labor, and use this as a starting estimate.

You better be comparing applesa to apples - I doubt you are. It's not a case of "a roof is a roof" Crappy shingles cost less than 1/3 what good ones do. Labour cost is the same assuming the sam quality of workmanship.

I just had my roof replaced. Strip off old roof to plywood. No wood replacement required. new drip edge and ice/water guard, new flashing and roof vents, new oermeable roof underlay and 50 year non pro-rated warranty - 15 squares of Certainteed Northgate shingles - class 4 impact resistant and 15 year 110mph wind damage guarantee - transferable to new owner - $8000 Canadian.

Warrantee covers removal, disposal and replacement - no deductable.

I could have had a bargain GAF or IKO roof for about half the price - the warranty not worth the paper it was printed on - like the one I just had torn off.

Also - you are mis-reading the insurance policy. If you have replacement value replacement on the house and the roof is damaged by fire or any other insured peril, the roof IS INCLUDED - unless, possibly, you are in a fire danger area like southern california and you roof is not fire resistant and the fire starts from embers on the roof. In that case they MAY not cover the roof - just like they don't cover the replacement of a leaky water pipe but cover the damage caused by the water leak.

Big difference in insurance between Canada and the USA too - but what you say pretty much applies across the board.

Insurance companies are NOT in the business of taking risks - - - - - And yes, I've spent 17 years working in an insurance office - not as an insurance professional but as their IT support - and learned a lot about insurance. My daughter is also an insurance professional (commercial lines mostly - but also personal lines property insurance)

Insurance is _all_ about taking risks. If there was no risk there would be no need for insurance.

What insurance is not about is charging less to assume a risk than the actuarial cost of that risk.

On Friday, October 18, 2019 at 3:41:50 PM UTC-4, snipped-for-privacy@yahoo.com wrote :

ing a roof on a house. So at least its carpentry focused. I am in the pro cess of getting annual quotes on house insurance. Some policies cover the replacement cost of the roof at 100% regardless of the age or condition of the roof. If the house burns down and is rebuilt, the insurance company pa ys for a brand new roof. Other policies only pay a depreciated value on th e roof. My roof is 20 years old so basically they are saying they would pa y almost nothing for a replacement roof if my whole house burned down and w as rebuilt. They pay 100% on rebuilding the house brand new except don't g ive you any money to install a roof.

My house is about 1250 square feet, hip roof, ranch one story, asphalt shin gles. Somewhat basic, simple roof. In your answers please say whether the price is for a re-roof of an existing house where they just put on new shi ngles and tar paper. Or whether its the portion associated to the roof of a new house build. Assume this is shingles, paper, sheathing, and maybe tr usses/rafters too. What part of the country the quote is from might be ver y relevant too. I'm in the Midwest.

How are you getting these "annual quotes on house insurance"? Are you shopping on your own or are you using an independent agent?

I suggest that you sit down with an independent insurance agent that knows your area and can ask/answer specific questions related to your house and your area, including your exact neighborhood.

It won't cost you a dime and you can have them tell you the impact of buying full replacement coverage with and without a roof included.

That said, I'm confused by this ask: "Assume this is shingles, paper, sheathing, and maybe trusses/rafters too."

Are you saying that you have seen full replacement coverage that doesn't include trusses/rafters and sheathing as part of the coverage? If your hous e burns to the ground they'll pay for everything below the top plate of the wall, but they stop paying there? Hmm... maybe I better check my policy. Oh wait, I don't have to. I'll just call my agent and ask. ;-)

The actuarial tables and risk assessment are designed to eliminate risk to the insurer. They are in business to make money by reducing YOUR risk - not by taking a risk themselves.

You are using two different definitions of "risk" in that sentence. Please pick one and stick with it.

No I am not The insured pays money to an insurance company to reduce it's risk. The insurance company charges enough to cover that risk and make a profit. It reduces it's exposure to risk in many ways - including not insuring properties with a "timed out" roof, or uninspected or out-dated wiring, or houses with old iron plumbing - among a lot of other conditions. In order to insure a building with a new insurer the owner may be forced to replace the roof, rewire and replumb the building, and even replace windows and doors. The building is "uninsurable" because it presents too much of an obvious risk to the proposed insurer.

Same with auto insurance. If you have a bad driving record you become basically uninsurable. The cost of insurance becomes prohibitively high - and you are put into the "facility pool" - not insured by the insurance company itself.

And if your house is on a floodplain you cannot get flood damage insurance. The insurance company will not "assume the risk".

The insurance companies charge enough to ensure they make a profit after paying out all anticipated claims - AND they INSURE THEMSELVES against the risk of a catastrophy by "re-insuring" with other insurance companies. Lloyds of London is one of the major re-insurers, along with Birkshire Hathoway, Munich Reinsurance, Swiss Re, Hanover Ruck, Great West Lifeco, XL Bermuda, Axis Capital Holdings and at least a dozen more large international financial institutions.

Reinsurance can be divided into two basic categories: treaty and facultative. Treaties are agreements that cover broad groups of policies such as all of a primary insurer?s auto business. Facultative covers specific individual, generally high-value or hazardous risks, such as a hospital, that would not be accepted under a treaty. The Faculative coverage may be split between re-insurers, either Pro Rata or by risk- one company taking on liability for instance, while another covers structure and another facilities/plant, and possibly another coverinf all specialized medical equipment.

Insurance companies are NOT in the business of "taking risks" - they are in the business of making money