Citizens Insurance New Regulations
Author: Support Services, e-PRO
It seems Citizens Insurance, who we are at their mercy, has passed a new rule. They will NOT insure a shingle roof that is more than 25 years old; a tile roof they will extend a bit longer (I heard probably 30 years, but I am not sure). So where does this put the buyer or seller? One of them will have to put on a new roof before the home can be insured so in most likelihood, the seller is going to have to do this before marketing their home.
In this state of economy and the hardships sellers are already facing, thank you Citizens for adding another one. The only happy ones are the roofing companies. If you do need a new roof, check out the roofer completely before commiting to anything.
As always, we will keep you posted.
