I thought this was a leak waiting to happen. When the house was buillt the chimney should of been located away from the valley. Or how hard would it off been for the roofer to build extend the roof line to make the valley away from the chimney?
Most chimneys leak at the flashings without the help of a valley sending more water towards it.
I always try to eliminate a potential claim so I dont have to pay to have the chimney rebuilt. I submitted photo and made comments of the potential for water intrusion. (By the way the attic sheathing was mold covered)
I just thought I would post to see if anyone has any comments or has pictures of other simular scenerios.