Though it may not necessarily be a requirement by the insurer, conducting regular inspections and having a maintenance schedule in place can help you spot problems early on and avoid costly repairs. If your roof sustains damage due to wind and hail and needs to be repaired or fully replaced, make sure the deductible doesn’t surpass the cost of the repair before submitting a claim. Some insurers might have a separate deductible that pertains only to the roof, but most commonly each covered peril, such as wind and hail, fire and lighting etc will come with a set deductible. With roofs being one of the most vulnerable parts of the property to windstorms, roof repairs and replacements naturally make up a big part of these claims. Why roofs are so important for property insuranceĪccording to The Insurance Information Institute (III), wind and hail damages are the most common sources of property damage claims, making up 34% of causes of loss from 2016-2020. If the property is located in an area that’s prone to weather hazards, having a robust roof is more crucial than if you live in an area that rarely experiences harsh weather. In addition to the above factors, location also plays a crucial part. This could potentially reduce the risk of damage and, consequently, impact insurance rates. Shape - While not a major criterion, certain roof shapes may have advantages in terms of their resistance to wind, snow, or other natural elements. In any case, it’s crucial for the insurance carrier to know exactly when the roof was last fully replaced. An older roof made from a more durable material such as metal or slate where the overall condition is good might not be as affected when determining the premium rate. A 20-year-old shingle roof could be difficult to insure or significantly increase the premium rates. With new technology, this can now be done relatively quickly by tech-forward carriers, but manual inspections may still be necessary in some cases.Īge - Newer roofs are generally speaking more likely to get a better premium rate. Perhaps needless to say, insurers want to see that the roof is well maintained and in an overall good condition. Metal and slate roofs are generally more durable than for example wooden roofs or asphalt shingles.Ĭondition - Insurance carriers will always look at the overall condition of the roof, regardless of material, age, and shape. Material - certain roof materials may have advantages in terms of their resistance to wind and hail, snow, or other natural elements, which could reduce the risk of damage and, consequently, impact insurance rates. These are primary factors for insurance companies to estimate the roof's durability, risk, and likelihood of damage. When submitting a quote, you will typically be asked about the material of the roof, its age, maintenance schedule, and shape of the roof. What do insurers look at regarding the property’s roof? With new technology, it’s easier to pinpoint roofs that may require more repair or need replacing but technology can also reward those who invest in their roofs. Get a QuoteĪs an insured, it’s helpful to understand these coverages and how they are determined, so you can feel informed. We even take care of canceling your old policy for you.
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