my Mom's roof never needed any hardware replacement. But, although it is in one of the windiest places in the US, it is also extremely dry, old barb-wire fence posts last for a century.
It has always been my understanding that if you have a mortgage the bank will require an insurance policy in whatever amount is necessary to cover THEIR risk. The bank doesn't care about whether you carry insurance on your personal possessions that the bank hasn't loaned you money on. My house is paid off so, unfortunately, the risk is mine. Several of my neighbors also lack insurance.
I'm almost one hundred percent certain that the insurance company monitors houses that they insure. I have never heard that they require an indoor inspection unless there has been some event, however I heard a couple of years ago that they were flying drones over houses to check on the roofs. I also read that they use satellites, airplanes, and balloons because the drone laws are a vague patchwork of regulations.
I certainly think that you are correct that the insurance company will pay as little as they think that they can get away with.
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