Your roof is the largest, most expensive part of your home, especially to home insurance companies. Primarily because of how big it is and the costs associated with being the first line of defense against the elements, roof age and conditions affect your home insurance rates more than just about any other single part.
Fortunately, it is also a cost that is fully controlled by you, the homeowner! Few things can raise or lower your insurance costs as much as your roof, as such you owe it to 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.
The fact of the matter is, as a roof ages, especially with materials like shingles, 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.
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!