Can You Insure a House in Florida with a 20-Year-Old Roof?

Owning a home in Florida comes with unique challenges, especially when it comes to homeowners insurance. If your roof is 20 years old, you may be wondering if you can still get coverage. The short answer? It depends on the insurance company. Some carriers will insure an older roof, but with conditions. Others may deny coverage altogether due to the higher risk involved.

In this blog, we’ll break down how insurance companies handle older roofs, the risks involved, and what options you have if you're struggling to find coverage. Plus, we’ll discuss how a roof replacement could actually save you money in the long run.

Why Do Insurance Companies Hesitate to Insure Homes with Old Roofs?

Insurance companies operate based on risk. The older your roof, the more likely it is to fail during a storm or develop leaks that lead to costly repairs. This puts insurers in a tough spot. If they cover a home with an aging roof, they risk paying out large claims for damage that could have been prevented with a roof replacement.

Think of it this way: If someone with a serious health condition applies for life insurance, the insurer may either charge them a higher premium or deny coverage altogether due to the increased likelihood of a payout. The same principle applies to roofs. A roofing contractor can tell you that after 20 years, most roofs have significantly deteriorated, even if they look fine from the outside.

Florida’s Homeowners Insurance Crisis

Florida homeowners already face limited options when it comes to insurance. In recent years, several insurers have pulled out of the state due to high risks associated with hurricanes and other extreme weather events. This has made it even more difficult for homeowners with older roofs to find coverage.

Many insurance carriers now have strict age limits on roofs. Some won’t insure a home if the roof is over 15 years old, while others may allow up to 20 years but with restrictions.

If you’re struggling to find coverage, it’s crucial to understand your options. Some insurers may still offer policies for homes with 20-year-old roofs, but the policy language is key.

Cash Value vs. Replacement Cost: What’s the Difference?

If an insurance company agrees to cover your home with an older roof, they may only offer coverage based on actual cash value (ACV) rather than replacement cost value (RCV). Understanding the difference is crucial:

• Replacement Cost Value (RCV): This covers the cost of a full roof replacement, ensuring you get a brand-new roof if yours is damaged or destroyed.
• Actual Cash Value (ACV): This factors in depreciation, meaning your roofer will only be able to replace your roof based on its current value. If your 20-year-old roof is only worth a few thousand dollars, that’s all you’ll receive, even if a full replacement costs much more.

Many homeowners don’t realize they have ACV coverage until it’s too late. After a storm or major damage, they find out their payout is far less than what’s needed for a full roof installation.

How to Check Your Policy for Roof Coverage

Before assuming you’re fully covered, take a close look at your policy. Pay attention to:

• Age Restrictions: Some insurers won’t cover roofs over a certain age.
• Type of Coverage: Does your policy pay out replacement cost or just actual cash value?
• Exclusions and Limitations: Are there any clauses that limit coverage for older roofs?

If you’re unsure about your policy’s details, contact your insurance provider and ask specific questions about roof coverage. It’s better to find out now rather than after you file a claim.

What Are Your Options if You Can’t Get Coverage?

If your insurance company refuses to cover your home due to an aging roof, you still have options. Here’s what you can do:

1. Shop Around for Other Insurance Providers

Some companies may have more flexible guidelines for older roofs. However, with the current state of Florida’s insurance market, choices are limited. If you do find coverage, expect to pay a higher premium.

2. Consider Roof Financing for a Replacement

Replacing your roof may seem like a large expense, but roof financing options make it more affordable. Instead of facing higher roof payments due to an increased insurance premium (or being denied coverage), you could put that money toward a brand-new roof. Many homeowners find that the savings from a lower insurance premium help offset the cost of roof installation.

At Honest Abe Roofing Orlando, we offer flexible roof financing plans so you can get a roof replacement without breaking your budget. Schedule an appointment today to learn more.

3. Consider a State-Backed Insurance Plan

If you can’t find a private insurer, you might qualify for coverage through Citizens Property Insurance, Florida’s state-backed insurance provider. However, keep in mind that this coverage may come with restrictions and higher costs.

4. Negotiate with Your Current Insurer

If you already have a policy and your insurer is threatening to drop you due to an aging roof, ask if you can extend coverage for a short period while you arrange for a roof replacement. Some companies may offer temporary extensions.

Why Replacing Your Roof Now Could Save You Thousands

A new roof does more than just protect your home—it can actually save you money in multiple ways:

✅ Lower Homeowners Insurance Premiums: Newer roofs are less risky, which means insurers may offer lower rates.
✅ Increased Home Value: A new roof adds value to your home if you plan to sell in the future.
✅ Better Energy Efficiency: Modern roofing materials help improve insulation, leading to lower energy bills.
✅ Peace of Mind During Storm Season: Florida’s weather is unpredictable. A strong, new roof reduces the chances of leaks, damage, and costly repairs.

If you’re considering roof installation, now is the perfect time. With roof financing options available, you don’t have to pay for the entire roof replacement upfront. Instead, you can spread out payments in a way that fits your budget.

At Honest Abe Roofing Orlando, we specialize in helping homeowners get a durable, storm-resistant roof without the financial strain. Contact us today to discuss your options.