Your roof is the first line of defense between your home and environmental hazards such as hail, wind and more. It’s an important part of your home and is also very pricey to repair or replace. Because of this, a roof is a very important factor in determining your homeowner insurance rate.
Does the type of roof affect home insurance?
Where you live is a big factor in your homeowner’s insurance rate; but roof type, including the shape and material, also plays a part in your home insurance. A roof on the coast is more likely to be damaged by strong winds than a roof in a rural inland community. Insurance providers take a lot into account when rating your risk and your roof can affect your coverage.
Can I get homeowners insurance with an old roof?
If your roof is old, getting standard home insurance coverage may be a little challenging, but don’t despair – there are options. Depending on your situation, your homeowner’s insurance may be written with actual cash value on the roof, rather than replacement cost. Most insurance providers require an actual cash value roof endorsement on your policy if you have an asphalt roof over 15 years old or a metal roof over 25 years old. Your agent can show you how to best handle your roof’s insurance coverage situation.
Here are a few factors that may determine a roof insurability and how a roof can affect your insurance.
Roof factors that can affect your insurance.
Roof’s Age
Newer roofs typically get a lower rate. The older a roof, the more susceptible it becomes to damage – making it riskier to insure. Some older roofs, usually 20 years or older depending on material, may not even be eligible for homeowners insurance coverage at replacement cost. If you’re looking at an old roof and can’t replace it, talk with your agent about what he or she recommends. Your policy may be written on an actual cash value instead of replacement cost.
Condition of the Roof
Even newer roofs may not be in good condition if they have not been cared for properly. It’s your responsibility as a homeowner to fix any missing shingles, repair leaks, etc. to keep your roof in good shape. The condition of your roof may play a part in the insurance rate – so it’s best to keep it in tip top condition.
Can you use home insurance for your roof?
If you’re hoping to use your homeowner’s insurance to get a new roof, you need to know how the coverage works before you get your hopes up. Your homeowner’s policy will detail the coverage you have for your roof, but typically a homeowners policy WILL cover repairing or replacing a roof only if the damage was done by a covered event (such as a fire, hail, windstorm, etc.).
Your roof is important. Make sure you have proper coverage but call us to inspect and walk you through the process. We here at PROVIDENCE ROOFING LLC are serving the BOONE, HICKORY, STATESVILLE, HUNTERSVILLE, and local communities of North Carolina. Call us today at 704 883-6052 or visit us at www.providenceroofs.aboveall.dev.
