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Roof Damage

Regardless of the age of a roof, the main eligibility requirement comes down to the overall condition as even roofs that are only a few years old can sustain damage during a storm or unexpected event. While some damage is more visible to the naked eye, any damage to a roofing system can cause an application to be denied or a policy to be cancelled. It is not an industry standard to provide coverage for a home with existing damage, although there may be companies that allow for exceptions if the repairs will be made within 30 days of a closing, and the damage is not extensive.

Every carrier has their own set of guidelines regarding the age of a specific roofing system that they will accept. Different roof materials have different life expectancies, but regular evaluations and maintenance by a licensed roofer is recommended to ensure the maximum life expectancy for any roof material.

Solar Panels

Guidelines for solar panels are regularly being updated as they become more common. You want to make sure that your coverage accounts for the additional costs to repair the panels in the event they are damaged. There are some companies that have a roof material requirement for solar panels and may not accept them with certain roof materials. Others may accept the panels, but only if there is no net metering contract with the electric company. It is important to verify with your agent that your current insurance carrier will accept solar panels before you install them as you may find yourself in a situation where your coverage is being cancelled after installation if your insurance company does not.

Water Heaters

While there are some carriers that do not have an age restriction for water heaters, if they are in satisfactory condition, tankless and tank water heaters are assessed differently. Tank water heaters have an average life expectancy of 15 years and therefore most companies will accept them up to that age unless there are signs of deterioration such as rust or water stains. Tankless water heaters are less likely to have an age restriction, however, some carriers do not accept them over 20 years old. The age of a water heater can limit available carrier availability, so it is something to keep in mind when you are shopping for more competitive rates.

Electrical Panels

There is a list of electrical panels that are widely considered to be more hazardous and therefore unacceptable by insurance carriers which could limit the available insurance options for a home. Some of the most common are Federal Pacific, Zinsco, Stab-Lok, Challenger, and Sylvania. As with everything insurance related, there are carriers that may accept any brand of panel that is free of damage and deficiencies. In addition to the brand of panel, damage such as loose wiring, tripping breakers, double taps, scorching, empty sockets, corrosion and exposed wiring will determine the eligibility of a panel.

Fuse boxes also face the same eligibility limitations and concerns, regardless of the brand.