Dallas-Fort Worth Real Estate Investor Club

Roof Damage/condition

  • 25 Apr 2013 10:50 AM
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    Message # 1278438
    David Burdick
    Part of the due diligence, when buying a property, is to check out the roof. There is no way to determine the condition except a physical inspection. Current insurance will NOT pay for past damage ( ie, prior to inception of their policy).

    Carriers are increasing wind/ hail deductibles or in some cases refusing to insure certain properties, due to roof conditions.  Roof claims will be declining, but as they do insurance rates will also drop.
  • 26 Apr 2013 12:00 AM
    Quote
    Reply # 1278953 on 1278438
    Randy Cox
    If you are looking to buy a house and spot hail damage, you should bring it to the current owner's attention.  If there has been hail in the area within the last year it is probably covered by the home owner's policy.  The right to file a claim will not survive the closing.  The named insured (owner or mortgage company) is the only one who can file the claim.

    Investors should learn to spot hail damage, wind damage, tree damage, and other kinds of damage, some insured some not.  There's all kinds of information available on the net.  Light colored roofs are easier to read than dark, or even black roofs.  I've seen experienced insurance adjusters miss damage on a black asphalt roof.  Sometime you have to feel the bruises with your thumb to find where hail has hit.
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