Homeowner’s Insurance is vital for every Florida homeowner. When the worst hits and you’re left scrambling, homeowners insurance can help alleviate the financial strain and stress. However, insurance can be quite costly if you don’t know what insurance companies look for when evaluating homes. Everything down to the type of Central Florida roof you have will affect your insurance.
How Do Roofs Affect Insurance?
An insurance company will look at a few different things when evaluating your home. When it comes to your roof, this will include its age, condition, material, and even shape.
Roofs over 17 years old may not be eligible for insurance coverage, while roofs in poor condition may increase the cost of your insurance. You may even be required to repair or replace your roof in order to obtain insurance.
What Type of Roof Materials Do Insurance Companies Prefer?
The more durable your roof is, the more appealing it will be to your insurance company. Insurance companies may have higher premiums for roofs made of a flimsier material than roofs made of something more durable and strong.
In general, there are a few strong materials that insurance companies tend to favor, although there are no guarantees. They are metal, slate, and tile. Asphalt shingles will typically be an acceptable roofing material as well due to how common they are, but they aren’t as durable as some other options.
Metal is wind and fire-resistant. Slate and tile won’t rot and provide exceptional protection against fire and storms. They may crack relatively easily, though, when hit with debris.
In many cases, insurance companies will not like wood roofs. Whether you use shingles or shakes, wood roofs are susceptible to fire and rot. Some companies may ask you to apply a fire-resistant protectant to your roof before they’ll cover it in your insurance, while others may simply refuse.
What Roof Shape Do Insurance Companies Prefer?
Just like with roof materials, your roof shape may also impact your insurance. Insurance companies may view certain roof shapes as more durable or protective in some climates.
There are several different roof shapes, but the most common are the gable and hip. A gable roof is a classic upside-down V-shaped roof with two slopes. Hip roofs have four slopes and sides. You may also commonly find flat roofs with no or very minimal slope.
Gable roofs are rather sturdy, but they may be prone to wind damage. In the eyes of most insurance companies, hip roofs will be a more durable option. Flat roofs, as you may suspect, are generally considered one of the worst roof types, as water will easily accumulate and can quickly wear down your roof.
How Much Does Your Roof Affect Your Insurance?
There are many different aspects that insurance companies will look at when evaluating your home.
For those with metal, concrete, slate, or tile roofs, the premium won’t vary too much. However, with a wood roof, you may pay anywhere between $150 to $200 more every year. Concrete roofs, due to their hardiness, tend to have the lowest annual premiums, followed by metal then slate and tile.
Of course, scheduling regular maintenance to keep your roof in good shape can also impact your insurance rate. If your insurance company sees you are making the effort to keep your roof in good shape, they may lower their rate. If you neglect your roof and leave it in a bad state, however, an insurance company may consider it to be in poor condition and charge you more.
Conclusion
All the many different parts of your roof will play a role in your insurance rate. Everything from annual maintenance to the material and shape of your roof can impact your premium, so be sure to shop around before committing to an insurance company. You may be surprised at the differences in rates. For more information about various roof materials and types, don’t hesitate to contact us, and we’ll be glad to answer your questions.