Can a new roof lower my insurance in Raleigh?
Insurance companies classify different homes into risk categories, a high risk home will usually have a higher deductible or overall monthly cost compared to a low risk home. An insurance company is more likely to give discounts and lower deductibles if the home has a new roof which will bring the property into a low risk category. So the answer to this question generally speaking is yes, a new roof will lower some aspect of your insurance policy. There are circumstances however with each insurance provider so it is always a good idea to check with your agent. The next portion of this article will go into the details of why insurance companies classify risks with homes and what a new roof will mean in potential savings.
Before insurance companies cover a property they take into consideration many things such as the age of the home, condition of the roof, location of the residence etc. If the roof on your home is over 25 years old, missing shingles or likely to need repaired within the next year then the insurance will most likely categorize the property as being “high risk”. High risk properties are the homes that insurance companies have to worry about, these homes are the ones which will more than likely file a damage claim of some sort soon. Like mentioned earlier, if your home is in a high risk category and you install a new roof you may get bumped out of the category and into a lower one which will in turn save you money.
If your home was recently damaged by a hail storm or fallen tree you would submit an act of god claim with the insurance provider. If you are replacing the roof due to damages then no, your insurance will not go down in price because they are going to cover the majority cost of the roof on the home. There are other situations where getting a new roof may not lower your insurance costs, it is always recommended to contact your insurance agent to determine how you can lower your deductible or monthly rate.
There are many insurance companies that often offer discounts after a new roof has been installed on the home, this could be in the form of a lower monthly cost or much lower deductible for damage claims. Insurance agencies also often provide incentives for certain types of shingle such as impact resistant shingles. These shingles make it harder for the roof to get damaged during a hail storm or massive wind storm which means less insurance claims for the company. Each discount or incentive will depend on your current insurance provider and the policy you have in place so be sure to contact them directly to discuss potential savings or discounts they give you with a new roof.
If you want to learn more about what our roofers in Raleigh can do for you then be sure to give us a call today. Our roofing contractors in Raleigh provide professional roofing services and work with all major insurance companies to insure you get the best roof possible over your home. Because we are a local company we guarantee our work and are very easy to work with during the roof installation and insurance claim process.
Before insurance companies cover a property they take into consideration many things such as the age of the home, condition of the roof, location of the residence etc. If the roof on your home is over 25 years old, missing shingles or likely to need repaired within the next year then the insurance will most likely categorize the property as being “high risk”. High risk properties are the homes that insurance companies have to worry about, these homes are the ones which will more than likely file a damage claim of some sort soon. Like mentioned earlier, if your home is in a high risk category and you install a new roof you may get bumped out of the category and into a lower one which will in turn save you money.
If your home was recently damaged by a hail storm or fallen tree you would submit an act of god claim with the insurance provider. If you are replacing the roof due to damages then no, your insurance will not go down in price because they are going to cover the majority cost of the roof on the home. There are other situations where getting a new roof may not lower your insurance costs, it is always recommended to contact your insurance agent to determine how you can lower your deductible or monthly rate.
There are many insurance companies that often offer discounts after a new roof has been installed on the home, this could be in the form of a lower monthly cost or much lower deductible for damage claims. Insurance agencies also often provide incentives for certain types of shingle such as impact resistant shingles. These shingles make it harder for the roof to get damaged during a hail storm or massive wind storm which means less insurance claims for the company. Each discount or incentive will depend on your current insurance provider and the policy you have in place so be sure to contact them directly to discuss potential savings or discounts they give you with a new roof.
If you want to learn more about what our roofers in Raleigh can do for you then be sure to give us a call today. Our roofing contractors in Raleigh provide professional roofing services and work with all major insurance companies to insure you get the best roof possible over your home. Because we are a local company we guarantee our work and are very easy to work with during the roof installation and insurance claim process.