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Your Homeowner’s Insurance Cost Is Related to Your Roof

If you are thinking about replacing the roof on your home, the first call you make shouldn’t be to a roofing contractor. It’ should be to your homeowner’s insurance agency.

The amount you pay for homeowner’s insurance is directly related to the type and condition of your home’s roof. That’s because the roof is the primary gateway to any potential damage to your home.

Roof Is the Entry Point for Danger

If there is a breach in your roof, it can allow damaging facors such as wind, hail, wildfire, rain, snow and others to find their way into your home, threatening its structural integrity. So insurance companies protecting homeowners want to make sure your roof is not only intact, but made of the proper material.

For example, in some western states where wildfires are a common problem, many insurance companies won’t provide homeowner’s insurance for house that have roofs made of cedar planks or wood shakes. There’s just too much risk of fire damage.

Lower Insurance Premiums?

Before you replace your roof, contact your home insurance agent or broker to see what impact your new roofing type is going to have on your insurance premium. If you put a higher quality roofing material on your home, it’s possible you could even reduce the amount you pay for your homeowner’s insurance.

Another thing to check is the coverage itself. Some insurance companies will only pay “actual cash value” of your roof rather than the full replacement cost if something should happen, such as a fire or a roof collapse. This could leave you on the hook for more out of pocket expenses down the line.

When you get quotes for a new roof, make sure youi are getting the full replacement cost, not just the cost of materials. To get a general idea of how much you will spend, you can use the 3-3-3 rule: One-third for materials, one-third for labor, and one-third for contractor profit and administrative fees.

 

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