Until recently, insurance companies were okay writing policies for homes with T-Lock roofs. Over the past few years and due to wind and hail claims, insurance companies are no longer able to write coverage on these roof types due to the fact that if one single is damaged, the ENTIRE roof must be replaced!
The company who made the T-Lock roof shingles went out of business in 2003, so the shingles are no longer available, therefore insurance companies are forced to replace the entire roof if damage is found.
Only a few insurance companies still remain that will write these types of roofs but they will only cover them at depreciated value, and since most remaining T-Lock roofs are now close to 10 years old the amount of coverage that would be provided on an actual cash value basis is almost nothing.
What can a buyer do?¬† Ask your Realtor what kind of roof the house has.¬†¬† Get a home inspection, to determine the condition of the roof you are buying.¬† If you find the home has T-Lock shingles in poor condition, ask the seller to replace them.¬† Let the burden of installing a new roof be his, BEFORE you buy the house. If the seller will not replace the roof, call your insurance agent and make sure that you can get a new policy with the existing roof.¬† If not, you may need to kill the deal.¬†¬† Your lender will require homeowner's insurance as a condition of your new loan.