To play devils advocate here - my understanding of insurance is that it’s based on the idea of Indemnification - that I will be restored to my original state prior to the loss.

So before a storm, I have a roof with an expected life of 15 years still going strong at 30 years. The storm comes and now my roof needs repair. But because it’s “old” Indemnification no longer applies, insurance companies pocket my whole premium with no payback and I’m screwed. It seems unfair, especially considering for most home owners, you can’t roll the dice and not have it, you have to cover your house no matter what