2021 UPDATE***Can you Insure a 15-Year-Old Roof in Florida?

2021 UPDATE***Can you Insure a 15-Year-Old Roof in Florida?

January 04, 2022


If you read this previous post I stated…

“The roof is 15 years old…can you provide me with a quote? If it is a composite shingle roof the answer is most cases is No.”

Well things have changed in the Florida Homeowner Markets. Yes, in some cases we are able to provide an insurance policy, BUT buyer beware. When we are offering a quote check the fine print of the quote. In almost ALL cases the quote provided the roof will be at Actual Cash Value (ACV), instead of Replacement Cost.

What does this mean? What is ACV?

ACV means that in the event of a loss to the roof the insurance company will only pay for what the value of the roof is at time of loss. This is a Depreciated Value of the roof. Given the FACT that insurance companies value shingle roofs over 10 years old as having almost zero value this poises a problem to your buyer. In the event of a hurricane loss the value of the roof at the time of loss minus the hurricane deductible means pennies on the dollar to your buyer to replace the roof.

As you know when you buy a new car from the dealership the second you drive it off the lot it depreciates 20%. Now take a shingle roof that has just been installed and imagine how fast the insurance company is going to depreciate the roof!


“Original Post from 2020”


The question we get asked most from Realtors and Homeowners is, “The roof is 15 years old…can you provide me with a quote?” If it is a composite shingle roof the answer is most cases is No.


To be brutally honest, the insurance carriers know that the odds of a 15-year-old roof in Florida holding up during a windstorm is less than 25%! And when this roof fails not only does the insurance company have to replace the roof, most likely there will be interior water damage. So that premium payment of $2,000 does not come close to $20,000+ worth of damage. That $20,000+ becomes even more after the roofers, contractors, and public adjustors start gouging the insurance carrier.

From a Realtors Perspective…Why would you put your Buyer through an Upcoming Nightmare?

Let us say you did find an Insurance Agency that said, “they have a market that can do it.” You want to close the home and the buyer wants the home. A Win, Win situation! Going with this scenario, the agency binds coverage and it gets sent to home office for backend underwriting. The insurance carrier orders an inspection (ALL homes get an Insurance Inspection in Florida) and the inspector finds that the roof has less than five (5) useful years left. The underwriter then will send a letter to your client telling them that the roof must be replaced in thirty (30) days or they will cancel the policy. Bad News for your client that now must shell out $10,000 or more on a new roof!

The 30 Year Shingle Myth

We have Buyers and Realtors calling us saying that the seller put on a 30 Year Shingle Roof. The money the seller paid for that roof may be warrantied for 30 years in northern states, but here in Florida that 30 Year Shingle Roof still must be replaced by the 15-year mark!

Just One More Thing Realtors!

You found a home with the roof age between 10 and 14 years old. That roof may not be needing replacement today, BUT it will be needing to be replaced in the coming years so your client better begin budgeting! Some insurance carriers have even gone so far to say they will ONLY take shingle roofs 12 years and newer!


Metal Roofs – 30 Year Max
Title Roofs – 30 Year Max
Shingle Roofs – 15 Years MAX