Can Your Roof Affect Your Home Insurance?

Your roof is what stands between your home and the elements. As a result, your roof’s age, condition and materials can significantly impact how much you pay for homeowners insurance. Before you buy a new-to-you home, it’s important to understand the factors that impact your roof’s longevity. Depending on its age and condition, your insurance company may require a roof inspection before approving your policy — that’s how important your roof is! Read on to discover how roof requirements affect your homeowners insurance premiums.
The age of your roof can affect your insurance rates. The older your roof, the more likely it is to succumb to damage — and the more expensive it is to insure. Depending on your roof’s age and condition, it may actually be ineligible for coverage.
An older roof with issues like leaks, algae and missing or damaged shingles may not qualify you for possible discounts a newer roof could provide leading to higher insurance premiums.
Roofing material is perhaps the most important factor to its longevity. The following options vary greatly in cost, durability, protection, sustainability and insurability.
Yes, it certainly can! After all, a new roof is more likely to make your home more damage-resistant — protecting it from extreme elements like hail and heavy rain. That protection, as important as it is, does come at a price. Roof replacements can cost anywhere from $5,000 to $25,000.
Before you go through with the installation, talk to your Farm Bureau agent about potential discounts. They’ll explain how a new roof and specific materials can affect your homeowners insurance premiums.