How Your Roof’s Condition Affects Your Insurance Rates

To home insurance companies, your roof is the most important part of your home. Primarily because your roof is the largest, first line of defense against the elements. When your roof fails or is damaged it is likely to spread to other parts of the home and that’s when expenses begin to skyrocket.

If there’s anything insurance companies hate most, it’s paying out more money.

When strong weather events occur, such as wind, rain, hail, tornadoes and the like, your roof not only takes the worst of it, it takes most of the beating. In fact, most storm related claims (particularly hail and strong-wind events) are related to the roof in some way. For these reasons, insurance companies pay close attention to your roof when evaluating coverage and costs.

Your Roof Isn’t Just Your Roof

Your home insurance company has a vested interest in your roof and it shows in their pricing. When disaster 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.

For example, if you live in a wildfire prone area and have a wood shake roof  your home insurance will cost more than your neighbor with a fire-resistant metal roof. 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.

Roof Age & Your Insurance Rates

No matter how nice you think your roof looks, even if you’ve never seen the 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.

The fact of the matter is, as a roof ages, especially with shingle roofs, the less effective it is at routing water around your home. As such, 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. If the roof is close to or beyond it’s expected lifespan, even in perfect condition, the home insurance company can cover it’s actual value rather than replacement costs or even refuse to cover it at all! In any case, having an older roof will cost you more in increased rates than a newer roof.

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!

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