Have you gotten a “non-renewal” letter from your homeowner’s insurance policy? It’s become common to receive insurance non-renewal in Connecticut lately. Here’s what that means, and what you can do about it.

Why you got a non-renewal letter from your insurance company

Homeowner’s insurance companies only make a profit if they are receiving more in premiums than they are paying out in damages. If too many homes they insure are damaged by extreme weather, they’ll be losing money. To prevent that, they try to insure only homes that are in good shape and less likely to be damaged.

In the last several years, property-damaging weather has increased. That means insurance companies have paid for a lot of damages. That’s triggered many insurance companies in Connecticut to audit the homes they are insuring to make sure they are well-cared for.

If you have received a non-renewal notice, your insurance company has determined your home is too high-risk to qualify for coverage. We’ve heard of this happening to many homeowners. It’s often because their roof is too old to protect from the weather. Older roofs are more vulnerable to wind, hail, and ice damage.

What can you do about insurance non-renewal?

If your current insurance company is planning to withdraw coverage, you’re not likely to find another company that will give you a policy. If you don’t have your own homeowner’s insurance policy, your mortgage company will insure it themselves – usually at 3-4x the cost. The only thing you can really do is fix the issues that they listed in the non-renewal notice.

You probably knew your roof was getting old. You may even have been saving for a new roof. But we understand that doesn’t mean you are ready to pay for one. We try to keep the cost as affordable as possible and may be able to help you with financing options.

How can Elevate Exteriors help?

We can usually get a roof replaced as fast as the local permitting office allows, so you won’t need to worry about hitting that deadline. We’re also happy to send any proof of repairs that your insurance company requests.

If you’ve received a non-renewal notice from your insurance company in Connecticut, you can get a free inspection and quote from Elevate Exteriors. We’re happy to answer any questions you have about insurance and your roof.