It Depends On What Caused Your Roof Problems
A typical all-perils homeowners insurance policy does cover your roof and the cost of replacing it if it gets damaged. That’s the good news. But usually, you’re covered only if the damage or destruction results from a sudden accident or act of nature. Problems that ensue from general wear and tear or from a roof that has exceeded its intended life span are not eligible for reimbursement because they fall under the general maintenance responsibility of the homeowner.
How Often Do I Need To Replace My Roof
The timeframe in which a roof needs to be replaced depends largely on the materials used to construct it. Most roofing professionals recommend replacing asphalt shingle roofs every 15-30 years, wood shingle roofs every 20-25 years, metal roofs every 50-75 years and rubber roofs every 30-50 years. Any damage to a roof during its lifetime can accelerate the timetable for replacement. Its a good idea to speak with a licensed roof inspector to determine when a roof needs to be replaced.
So Everyone Is Happy Right
Homeowner gets a free roof, contractor gets the job, and the insurance company saves big money.
No only the insurance company is happy! The misinformed/ignorant property owner thinks he got a free roof, and the pro knows that he made a couple of bucks profit, because he skipped on the important parts that make a good, long lasting repair job.
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How To File A Claim For Roof Damage
There are a number of key steps to take in filing a claim with your homeowners insurance company for roof damage. Throughout the process, it is best to be both thorough and prompt.
Arkansas Home Prices Are Well Below Average
The typical Arkansas home only costs about $149,120, according to The Ascent’s research on average home price by state. Meanwhile, the national average home price is $293,349. This could work in Arkansas homeowners’ favor.
A lower home price isn’t a guarantee of lower home insurance costs, but the two often go hand in hand. A smaller home is usually cheaper to rebuild than a larger one, so many homeowners are able to get by with less home insurance coverage. However, the flip side is also true. Homeowners with homes that cost a lot more than the state average can expect to pay more for Arkansas home insurance.
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The Metal Roofing Discount
Metal Roofs come in all shapes and sizes. They can be fire resistant and impact resistant, EnergyStar rated and brand newall of these options are worthy of a discount. So if you have a metal roof, you can pretty much plan on gaining some sort of discount for having one. Sometimes, the discounts can be 30% or more. So not only will a metal roof save you money on energy costs, but it can also provide an insurance discount as well. The discount depends on factors such as location and material used and of course varies from provider to provider, but be sure to ask what sort of discount youre entitled to receive for your metal roof. StateFarms policies can be found here.
When Should I Upgrade My Roof
Depending on your roofs materials, you should replace your roof every 12 to 25 years. Most homeowners have asphalt shingles, which should be replaced every 15 to 30 years. If you live somewhere on the coast where you see lots of hurricanes or tropical storms, or more inland and experience a lot of hail or wind, you may need to replace before the 30-year mark.
A good rule of thumb is to have your roof inspected yearly to stay on top of minor repairs before they grow into even bigger ones.
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Inevitable Fallout From The Cheapest Roofing
Since the adjuster refused to pay for many important items, the pro either did not do them outright , or he secretly did not do these, but said that he did .
So the homeowner gets really crappy, cheap shingles that only look ok. She does not know that there is no underlayment, or that ventilation is poor, or that flashing is not done correctly, or that the roof is not nailed properly, etc, etc. The homeowner will not know this roof starts to leak in a few months and the contractor who performed the work is nowhere to be found.
But what did the homeowner really expect? He did not want to pay the deductible or for the extra but necessary items, which the adjuster refused to cover. In turn, it was not possible for the contractor to do a good job at the offered rate of pay.
Its important to note that even the best homeowners insurance will have this problem, because this is simply the nature of the game. The goal is to make as much money as possible, not fix your roof.
Home Improvements That Increase Your Home Insurance Premiums
Improving your homes security and sturdy build can lower your insurance, but many value-boosting renovations can cause a spike in your premium. Its usually a small price to pay to enjoy the benefits of your home improvements and protect them.
Items or additions that add to your home insurance premium:
- Pool or hot tub
- Renovations that add significant value, like major kitchen remodels
- Renovated basement or extra room
- Office space for home business
- Wood-burning stove, often found in historic homes
Do I have to let my insurer know about minor home improvements?
No. You wont usually need to pay more for insurance or even let your insurer know if youve only done minor improvements that dont significantly increase the value of your home. That could include painting rooms, installing new lights or replacing old doorknobs. However, you should document and take pictures of the new features, since youll need to be able to prove any new work that was done in case of a claim.
Case study: Roslyn’s experience
We recently bought a new hot tub for our back deck. I called our home insurer to get it added to our policy coverage. The total cost was only an extra $9 per year.
Now if theres a house fire that damages it or a tree branch falls on it, our home insurance would cover any repairs to the hot tub along with our home and property. Otherwise wed need to pay out of pocket to repair it or buy a new one, and hot tubs arent cheap.
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Will A New Roof Lower My Insurance Premiums
- Will A New Roof Lower My Insurance Premiums?
Your roof is arguably the most important aspect of your homes structure and its quality can have a major impact on the cost of your homeowners insurance. While the cost of repairing or replacing your roof can be steep, it can certainly pay dividends when done at the right time.
There are several factors that play into your homeowners insurance rates and you may find that investing in a new roof or committing to some serious roof repair can help significantly lower the amount of money you pay for homeowners coverage.
Depending on how old your roof is, what materials its made from and how it was installed, you may qualify for a discount on your homeowners insurance premiums. Lets take a look at some of the small changes you can make to your roof that have the potential to result in major savings.
Finding Cheap Homeowners Insurance: Ways To Save
While you canât control some factors that influence your homeowners insurance cost, such as your homeâs location, its age, and its replacement cost, there are some things you can do to reduce your rates.
These tips can help you get the cheapest homeowners insurance possible without sacrificing the quality of your coverage.
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How To Get Homeowners Insurance To Pay For A New Roof
Whether your home is in need of a new roof because the old one is damaged due to storms, winds, leaks, or missing shingles, full roof replacements can be an expensive project. Many homeowners try to find out how to get insurance to pay for a new roof to lessen the out-of-pocket expense for the project.
Working with insurance companies can be a challenge, but if your home is in need of a new roof, it could be a worthwhile conversation. Here are some tips from our team for how to get insurance to pay for a roof replacement.
How Can Homeowners Insurance Pay Less For Roofing And Why Do Contractors Agree To This
Introducing Xactimate software the most clever way for the insurance industry to save on claims, and to screw roofers / homeowners in the process!
This is an estimating tool that is OWNED by the big insurance companies. It is the ONLY program they use to price the scope of work.
Here are two quotes from their website:
Xactimate helped contractors and insurance adjusters estimate repairs
Today 22 of the top 25 property insurance companies in the U.S. and 10 of the top 10 Canadian insurers use Xactware property insurance claims tools.
You can see this for yourself on their about us page.
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Three Things To Check About Roof Insurance
Here are the three main questions to ask to understand if your roof insurance is good or not. The first question refers to the perils that are covered, the second refers to how you will be paid and the third refers to how much money you get in a claim:
Explore Group Coverage Options
Your employer may administer a group insurance program. Similarly, some professional, alumni, and business groups offer packages at reduced rates. For instance, organizations such as AAA, AARP, and wholesale clubs offer discounts to their members. Still, just because youre getting a discount doesnt mean youre getting the best rate. Be sure to compare at least three options before making any decisions.
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How Do Home Insurance Discounts Work
Some home insurance discounts are applied when you buy a homeowners insurance policy, while others go into effect when you upgrade your home or make a change to your policy.
If you buy a new policy, look through your insurer’s information for any discounts for which you might be eligible. Don’t be afraid to ask your insurance company if you’re not sure if you’re eligible for a discount. Common discounts you can receive when you purchase coverage include a home and auto bundle and new home discount.
If you already have home insurance, you don’t have to wait to renew your policy to get discounts. Contact your home insurance company and provide them documentation in cases such as a new roof or security system. You can start enjoying the benefits of discounts today.
There are also policy-level discounts that may arise over time. For instance you may qualify for a loyalty discount or a claims-free discount if youve had the same policy in effect for years and havent made any claims. Thats why its prudent to check in with your insurance company at least upon renewal even if you havent done any work on your home.
Its also important to know the following:
Discount amounts can be capped. You’ve read about all of the above discounts and you’re adding them up in your head. Now, for the bad news — insurers usually place limits on the total percentage of discounts you can receive. The discount cap varies by insurance company, but can be around 30% or 40% in some cases.
Seek Out Other Discounts
Companies offer several types of discounts, but they don’t all offer the same discount or the same amount of discount in all states. For example, since retired people stay at home more than working people they are less likely to be burglarized and may spot fires sooner, too. Retired people also have more time for maintaining their homes. If you’re at least 55 years old and retired, you may qualify for a discount of up to 10 percent at some companies. Some employers and professional associations administer group insurance programs that may offer a better deal than you can get elsewhere.
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Install A Security System
You could get a break on your home insurance premium if you install a burglar alarm or a more sophisticated home-security system, which is tied to an outside monitoring system. The discount will likely be higher with the home security system, says Michael Barry, a spokesman for the Insurance Information Institute, an insurance industry group based in New York.
Some insurers will ask for an “alarm certificate” that shows that your system communicates with the local police or a private security company, Barry notes.
The discount: The amount you can save varies but discounts for stand-alone burglar alarms range from 2 to 5 percent among insurers in Maine, for example, including Travelers and several regional companies, says Gary Blackwell, who operates an independent insurance agency in Corinth, Maine.And if you have a home security system, you could shave an additional 2 to 3 percent off the premium, he says.
Cheapest Cities In Arkansas For Homeowners Insurance
These five cities have the lowest average Arkansas home insurance premiums:
Homeowners looking for coverage in Arkansas have a number of great options. And it’s always a good idea to shop around with multiple insurance companies to get more than one home insurance quote before deciding on the right fit for you.
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Tips For Protecting Your Roof
Protecting your roof is a great way to help prevent a costly claim from ever needing to be filed, even if your insurance policy covers roof damage. Here are some roof protection tips:
- Hire a roof inspector: Its a good idea to hire an inspector once a year or so to assess the roofs condition and recommend repairs, especially if it is an older roof. They can also help determine if and when it is appropriate to replace the entire roof.
- Take pictures of the roof: Take pictures of the homes roof from the outside, or have an inspector take pictures while on the roof especially prior to hail or hurricane seasons. Having recent pictures of the roofs condition before the damage occurred helps adjusters assess a claim.
- Keep up with regular maintenance: Once per year, have a roofing company survey the roof and make necessary repairs. Even a few broken or loose shingles can cause major damage and jeopardize future claims.
- Avoid DIY solutions: Unqualified homeowners should avoid fixing roof damage themselves. Its typically a much better idea to hire a licensed professional to make roof repairs to prevent additional damage and to ensure future claims are not denied due to improper installation.
- Prune overhanging trees: Large trees that hang over a roof can fall and cause major damage. Keep trees and branches pruned year-round to protect the roof in storms or high winds.
Does Homeowners Insurance Cover Roof Leaks
An insurer may cover a leaky roof. However, insurers also believe homeowners should prevent leaks and subsequent damage. Its up to the homeowner to take the necessary precautions to maintain the property. If a leaky roof isn’t fixed properly, an insurer might not cover the damage.
Home insurance policies usually cover roof damage caused by fire, vandalism and acts of God, such as hurricanes and tornadoes. Whether they will pay for damage caused by wind, rain or hail is determined by your policy and your roofs age.
A damaged 10-year-old roof will likely get coverage for a full replacement. A 20-year-old roof or older might only result in an insurer reimbursing you for what an older roof is worth at the time of the damage — after decades of wear and tear.
Whether youre reimbursed partially, fully or not at all depends on your policy, so check with your insurance company if you experience any damage.
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