One of the benefits of replacing your roof is the potential for your insurance premium to be reduced. It’s recommended to contact your insurance agent when you’re replacing your roof – there are several discounts you may qualify to receive. It is estimated that you can generally expect to save between 5 to 10% on your premium, although some providers may go up to 20%, according to Coverhound.
If you alter your roof in order to make it more resilient to external forces such as extreme weather events, it’s a good idea to inform your insurance agent immediately to get your homeowners rate adjusted. Considering that most new roofs employ modern shingles that are more resistant to fire and water damage as compared to their predecessors, your insurance premiums may be lowered.
Maintain Existing Insurance Coverage
Your homeowner’s insurance is significantly affected by the age of your roof. If your roof exceeds the recommended 20-year mark of replacement, most insurance companies will offer limited or zero coverage. In extreme weather events such as those deemed “acts of God”, such as hurricanes, tornadoes, flooding or wildfires, a 20-year-old roof may be privy to higher deductibles or forfeit insurance coverage altogether.
Insurers may also automatically assume there is structural damage “under the hood”, otherwise known as the roof deck, if your roof is 20 years old or more, and won’t cover damages from leaking if there is assumed negligence on the part of the homeowner.
Roof Replacement Reimbursement
Prior to replacing your roof, it’s recommended that you contact your insurance company to perform an inspection. Before their arrival, organize your current home insurance policy, home inspection reports, receipts for any prior roof work undertaken and photos of any damage that has occurred (ideally before and after shots – this means you should take photos of your roof when it’s healthy). Gathering these documents and having them readily available will be very helpful during the claims process.
At this point, the insurance company will send out an adjuster to both inspect the damage and offer their own assessment. While most homeowners’ insurance policies won’t pay to repair a roof that has gradually deteriorated due to common wear and tear, you may be able to get a portion of your roof replacement cost covered depending on existing damage.
About Rapid Restore
Our mission at Rapid Restore is to provide a stress-free, refreshingly simple, world-class roof installation experience for our customers in Long Island, NY. We look forward to protecting you. With over 110+ 5 star reviews on Google, you can trust the expert roofing contractors at Rapid Restore to replace your roof on-time and within budget.
For a quick, no-obligation estimate on your next roofing project, fill out our estimate form!