Great Tips for Homeowners Shopping for a New Roof
The roof on your house provides shelter, moves water or snow off your house and protects you from the elements. It is an essential part of any house and should be properly maintained and replaced when it has reached the end of its useful lifespan.
Replacing a roof can be confusing and expensive. What many homeowers fail to take into account when roof shopping is the fact that the type of roofing material you choose can not only impact the replacement costs, but also your homeowners insurance premium. Many insurers offer a discount for specific type of roofing material and that savings can add up over the years.
Here are a few tips for homeowners shopping for a new roof:
Replacing Your Roof Can Result in Savings
While a new roof can be an expensive upgrade, if yours is due for replacement you could shave a significant amount off of your homeowners insurance if you choose the right shingle.
Recently, insurers have started offering discounts to homeowners who replace their roofs with shingles that have been rated for impact resistance. This is due to hurricane damage claims which have increased dramatically over the last few decades. According to data from State Farm, damage caused by wind and hail cost State Farm and its policyholders more than $2.4 billion in 2014.
This type of damage has led to insurers to offer discounts to homeowners who use an impact resistant roofing material to help reduce weather related claims.
“Insurance companies are spending so much each year replacing roofs that we’ve started to see some companies change their straight deductible to a percentage of the home’s total value,” said Curt Boyd, owner of Academy Roofing in Aurora, Colorado in a recent AP article. “Homeowners see a $4,000 deductible and they don’t want to spend that to replace their roof every two years. They start looking for ways to buy value.”
In many states that are prone to hail damage, insurers have moved to a percentage deductible for roofs, which means that for roof damage your deductible would be a percentage of the total insured amount on your home. As an example, if your home is insured for $400,000 and you have a 2% deductible on your roof, you will need to cover $8,000 of the claim.
Using an impact resistant shingle (also called IR shingles) will reduce your risk of damage so you don’t have to make a claim while also resulting a discount on your homeowners policy.
Numerous cities in hail damage prone states have started requiring UL 2218 Class 4 Impact Resistance classification for all new roofs and industry experts feel this is a trend that will continue to expand.
What Kind of Shingles Should You Use?
When it comes to impact resistant shingles you should look for UL 2218 Class 4 Impact Resistance product. The majority of shingle manufacturers offer a Class 4 Impact shingle but the reinforcement of the shingle can vary dramatically between shingle makers.
As an example, the Heritage IR shingle from TAMKO uses a strong polyester fabric over the entire backside of the shingle to reinforce it and help prevent damage. Other methods to reinforce a shingle include using fabric over certain portions of the shingle or using other materials to help boost its resistance.
Despite being stronger, impact resistant shingles are produced in the most popular styles so they look the same as less resistant shingles, allowing homeowners to up the toughness of their roof while keeping a modern look.
Contact Your Insurer Before Replacing Your Roof
If your roof is in need of replacement, call your insurer before choosing a new roof. Most major insurance companies offer a discount if you use an impact resistant roofing material. The discount will vary by insurance company but expect between 10-30 percent, especially if you live in a hail prone state.
Most insurers will be happy to provide you with a list of approved shingle vendors so contact your insurer before making a final decision on a new roof.