Your roof is obviously a big part of your house and being the first line of defense against the elements, it’s constantly at risk of damage. From rain, hail, wind, and heat to falling trees and careless contractors, when your roof is damaged, it’s rarely cheap to fix, especially if it’s an older roof that hasn’t been maintained well. Insurance companies know this and since they are the ones who will likely be on the hook when the inevitable happens, if your roof isn’t up to par, you’ll pay for it.
Fortunately, it’s a cost that is fully controlled by you, the homeowner. Few things can raise or lower your insurance costs as much as your roof, so you owe it to yourself (and your wallet) to keep it in the best shape it can be!
How does your roof affect your home insurance rates?
Your Roof Isn’t Just Your Roof, It’s Theirs Too
Your home insurance company has a vested interest in your roof and it shows in their pricing. When something happens, it is the home insurance company who is going to pay for it, so they want to make sure what they are insuring is worth it. They’ll take into consideration not only the age but the condition, maintenance cycles, and how much it will cost them to replace it. This of course varies depending on the company and location but you get the idea, it’s plain to see why they would be so strict.
Roof Types & Environment Play A Large Part
For example, if you live in a wildfire prone area and have a wood shake roof your home insurance will cost more than the neighbors with a fire-resistant metal roof. Doesn’t sound fair but considering the risk can you blame them? It’s a good idea to contact your home insurance representative prior to deciding on what type of roof your are going to build or replace the current roof with as the rates could vary greatly.
You want to be sure you get the right roof type for your environment not only to be prepared for what the local weather will throw at you but also to keep your insurance costs in check.
Older Roofs Always Equal Higher Insurance Costs
No matter how nice you think your roof looks even if you’ve never seen the slightest sign of a leak or out of place shingle, if your roof is old it will affect your insurance rates and even payout when a problem occurs.
As a roof ages, especially with materials like shingles, the less effective it is at routing water around your home. As a result, damage that occurs usually begins affecting other parts of the home all the way down to the foundation and that’s when it can get really expensive!
Depending on the location and even insurance company, older roofs can be a hurdle when purchasing home insurance. In some places, if the roof is close to or beyond it’s expected lifespan, even in perfect condition, the home insurance company can choose to cover it’s actual (lesser) value rather than replacement costs or even refuse to cover it at all!
Do Your Own Homework & Read Your Policy Carefully
Knowing what your insurance covers and what you can do to reduce rates will help eliminate nasty surprises when you have to make a claim. If your roof is 15 years or older it’s especially important to know what your options are.
Before making the decision to replace your roof, discuss your plans with your roofing contractor and insurance agent to see how much of a difference your rates will be when you finally do decide to replace it.’
Atlanta Roofing Specialists offers free estimates to Metro Atlanta homeowners, especially if you have an older roof, contact us today at 770-419-2222 and you could be saving money on your home insurance in just a few weeks!
Featured image by DMahalko, Dale Mahalko, Gilman, WI, USA — Email: dmahalko@gmail.com, CC BY-SA 3.0 https://creativecommons.org/licenses/by-sa/3.0, via Wikimedia Commons