Curb appeal is a significant part of finding the place you want to call home. A major component of curb appeal is the condition and age of the roof. From discoloration, missing or broken shingles, to old material, your roof leaves a lasting impression. Beyond that first impression, a faulty roof is a concoction for a slew of other major issues from leaks, mold, or damage to the structural integrity. Roof condition can have a negative impact on your premium or the chance of getting homeowner’s insurance in the first place.
In the eyes of home insurance companies, older roofs are more likely to succumb to damage over a newer roof; therefore, older roof homes may be charged a higher premium. Roofs must hold up to constant beatings from the elements and have a limited lifespan. The best of roofs can last up to 30 years. Generally, if the roof is 15-years old, the homeowner will have higher premiums for insurance.
Every time your homeowner’s insurance has to be renewed, then it’s time to reassess the home, which includes the aging of the home, so as time goes, so too does the possibility for increased premiums for the age of the roof. At 20-years, it is a given that the roof will have sustained some amount of damage. Depending on the extent of damage and insurance company, generally at this stage and age, a roof inspection may be required with a replacement. Generally, home owners can expect to pay what the roof is worth at its current age, rather than the value of a roof replacement.
Age and condition of roof are also taken into consideration when it comes to storm damage and reimbursement from the insurance company. Again, a new and good condition roof will likely get full coverage or reimbursement, whereas an older and in rough shape, may not get reimbursement. Pre-existing conditions affect options, the same is true in homeowners insurance when it comes to your roof. Another common issue is leaky roof. General rule of thumb is that the homeowner is to take preventative care and maintenance efforts to do all that is capable to avoid leaks. If the roof is known to have issues with leaks, the insurance company may not be flexible when said leaks cause damage to the home.
It’s important to feel comfortable and confident that the roof over your head will hold up under the toughest of conditions for the lifespan of the manufacturer. It’s important to take good care of your home, and to not neglect or skimp or preventative maintenance with your roof. Your roof is the secret key to good home owners insurance.