Rising Insurance Crisis: How Arizona Homeowners Are Impacted by Roof Coverage Cuts

In Arizona, homeowners face a significant challenge as insurance companies increasingly withdraw coverage for roofs older than 15 to 20 years. This trend is causing distress among residents, especially in the Phoenix area, where rising premiums coincide with diminishing coverage.

Tempe resident Kelsey MacLennan recently experienced the ramifications of this shift firsthand. After a water softener leak led her to file a claim, her insurance policy renewal resulted in a shocking notification: she was being dropped. The reasons? The claim history and the age of her roof.

Shopping for alternatives, MacLennan found the task daunting. “I only found a few companies willing to take me, and my premium doubled,” she shared. The new policy not only came with a higher deductible but also excluded roof coverage, further complicating her situation.

This isn’t an isolated incident. An S&P Global report highlighted a 34% increase in insurance premiums over the last seven years, a trend driven by escalating weather claims linked to climate change. Homeowners filing claims often see their rates soar even higher after a claim.

Phoenix-based roofing expert Tim Orscheln has observed these issues firsthand. “We hear about it all day long… getting dropped is a huge problem,” he remarked, noting that residents in areas like Florida faced decimating rate hikes after hurricanes. Such trends are now emerging in Arizona.

Orscheln leads HomeLyfe, a company aimed at helping homeowners maintain their roofs and avoid costly replacements. He advocates for GoNano, a nano-technology that enhances roof longevity without a complete overhaul. This innovative application reaches deep within roofing materials, halting aging and preventing granule loss.

“It can extend the life of your roof by 10 to 15 years at a fraction of the replacement cost,” Orscheln explained. This technology is particularly vital as monsoon season approaches, with over 80% of asphalt shingle roofs not in need of replacement, making many homes eligible for significant savings.

Homeowners like MacLennan are finding solace in these solutions. “It will buy you some time and save what you already have. Why wouldn’t you want to protect your most valuable asset?” she asked rhetorically, highlighting an essential consideration for many in the valley.

As Arizona grapples with the dual challenge of rising insurance costs and the need for home maintenance, innovative approaches like those offered by Orscheln could provide essential relief. Amidst the turmoil in the roofing industry, maintaining an existing roof may prove to be a more valuable strategy than ever.