Homeowners knowingly or unknowingly providing false roof age information may initially benefit from lower insurance premiums but ultimately have a roof-related claim denied due to the deception. Insurers need a more accurate way to determine roof age.(Credit: Vladimir Polikarpov/Adobe Stock)
More than half of insurance claims involve roof damage, according to Lending Tree, and these losses are often caused by wind, hail and weather-related water damage. The Insurance Information Institute (Triple-I) reports that 39.4% of homeowners insurance losses in 2021 involved wind and hail, while 23.5% were due to water damage and freezing. It's fair to say roof repairs cost property and casualty insurers a pretty penny annually, but companies such as Nearmap and ZestyAI are working to mitigate these losses with more accurate data on roof age for carriers.
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