Wood Chew.
Squirrel teeth constantly grow. Squirrels must wear down their teeth by chewing on wood or metal. Structural damage occures to support beams over time.
Insulation Damage.
Squirrels use insulation in their nests. As nests become saturated in urine or parasites such as fleas they will destroy more insulation for new nesting
 
Wire Chew.
Squirrels assume that wires are sapling branches. They chew on the wires insulation thinking that it is bark seeking the bark meat inside. Major fires are started due to squirrels chewing wires.