Home insurance is a good asset to have in the event of an emergency, whether it’s with their roofing systems or siding. However, what some homeowners don’t actually know is that their roof can actually affect their home insurance rates, for better or worse.
Increased Insurance Costs
Believe it or not, your roof can actually increase the cost of your home insurance rates. This can occur two ways: the material the roof itself is made of and the age of your roof. For the former, roofs covered in steel panels or concrete shingles can cause your home insurance rates to spike because they’re expensive and don’t hold up well against hail. The latter, on the other hand, can cause your insurance to go up from 1% to 2% if the roofs are 15 years or older.
Declines and Non-Renewals
Every home insurance policy that’s written is followed by home inspections, no matter what home insurance provider you approach. This is so the company can determine if your home’s condition is acceptable by their standards. If your roof has issues like overgrown branches or damaged flashing, it can affect your home insurance rates. With that in mind, it’s best to have a roof repair done within a 60-day period after the inspection. Otherwise, your policy may be cancelled or declined for renewal by next year.
On the other hand, your roof can also reduce the price of your home insurance premiums. Once again, this is based on the material of the roof as well as its age. When it comes to age, insurance companies provide discounts for roofs that are 10 years old or younger, regardless of the home’s age. This is because roofs at this age are less likely to leak since they’re in good shape. Hail-resistant roofing systems like metal or tile covered roofs, on the other hand, can also grant the same effect so long as you have its classification certification.
Make your search for roofers easier by turning to Safe Harbor Roofing & Siding. We are your number one provider of commercial and residential roofing services. Give us a call at (913) 800-6181, or fill out our contact form to get a free estimate. We serve homeowners in Shawnee, KS, and other nearby areas.