I recently was reviewing my homeowners insurance, and found an error specific to the age of my roof. Instead of 5 years old, it is shown as being 13 years old. The roof was replaced by my insurer (hail storm) in 2016, but my policy was never updated.

There would have been a significant savings to my policy if the age of the roof was correct, and I am wondering what will happen when I challenge my provider with this error and request for refund.

Any comments or thoughts?

Sounds like it may be a good time to shop around. You could call and have them update it, but I doubt very seriously you would get the same discount savings as someone with a new policy.

I'd be happy to discuss in more depth, or shop your home insurance to see if it would make sense to change. Sounds like your current provider has been overcharging you for 5 years now...

craig@smithallen.com

You should get refund.

There are even different rates for gable vs. hip roof with most of our companies. Last year one of our agents input the wrong roof type and the customer got $145 back. The age difference you are talking about is big.

Almost every company out there should be able to provide a prorated refund on this. Not sure they will go back past one policy period but should at least get that discount back dated to the current year and then moving forward.

The savings would vary from one company to the next, but I would expect somewhere around 5% savings. So depending on what your annual premium is it might not be all that much money.

Appreciate the input here. Working with my insurer now to get the correction made, and trying to get them to also recognize their extended error. My hopes are slim that I get a full 5 years of refund back, but I am trying.

Insurance Agent here-As the agent, we have no reasonable way of knowing if someone filed a claim to replace their roof unless the client notifies us. Whenever I'm coordinating with clients for reshopping their rates, it's always the first question I ask. On the carriers end, they just paid $20k to replace a roof, the last thing they want to do is go out of their way to then notify the agent and then discount you on top of that.

When a claim is filed / paid, the agent receives notification of loss and payment. Its the agents responsibility to update the data with the carrier, thus producing the correct rate for the insured.

To the OP, contact the agent / carrier, most will refund the over paid premium. Easy.

I said reasonable way to know. Claim processes can be long and complicated, to try and monitor every time someone has a claim, when it is completed, and the changes to their home isn't a reasonable request of an agent. We are here to help as much as possible, but we have to rely on the home owner to keep us updated as well. If someone has their vehicle totaled because of hail damage, we have to rely on them to notify us to remove that vehicle and add their new vehicle.