Can a New Roof Help You Save Money on Home Insurance?

September 13, 2023

Can a New Roof Help You Save Money on Home Insurance?

Roof repairs and roof replacements are huge investments in the future safety, comfort, and value of your home. A quality roof replacement completed by an experienced, licensed roofing contractor can actually raise the value of your home and make it easier to sell when you decide to put it on the market in the future. Investing in a roof replacement can also save you money on your homeowners insurance premium. Before you start searching Google for ‘roofing companies near me in Maryland,’ take a look at the important factors that determine whether you’ll get an insurance discount for your roof replacement.

The Underlying Reason for Your Roof Replacement

Most of the time, you need to voluntarily invest in a roof replacement in order to be eligible for an insurance discount. The discount is considered a thanks or a reward for being proactive about the safety of your home. Conversely, when you hire a roofing contractor for roof repairs or roof replacement after a storm or mandatory inspection, your insurance rates might go up.

Age of Your Roof

Newer roofs afford better protection against extreme weather. They are also at a reduced risk of mold, leaks, and pest infestations. Some insurance companies offer a ‘roof age discount’ that may decrease or disappear altogether as your roof grows older. Most insurance companies won’t insure a roof that is over 20 years old, as it is considered a liability.

Roof Shape

Your roof’s shape will also impact your homeowner’s insurance rates. If you live in an area prone to heavy rains or strong winds, choosing a hip-style roof can actually increase your chances of getting a discount. Alternatively, gable roofs might be more expensive to insure, as they are particularly vulnerable to high winds.

Roof Material

The roofing materials your roofing contractor uses can also increase or decrease your chances of getting a discount on your premium. Roof replacements that have the lowest premiums are asphalt, metal, concrete, and slate. Wooden roofs are typically much more expensive to insure. Additionally, it’s wise to choose roofing materials with extended manufacturer warranties, as this is an indicator that the roof is built to last.

Impact-Resistant Roofs

If a roofing inspector certifies your roof as impact-resistant, you may be eligible for a discount on your insurance premium. The roofing materials your roofing contractor uses must meet the Class 1-4 standards outlined by Underwriters Laboratories or the Insurance Institute for Business and Home Safety.

Wind Mitigation Inspections

In regions that are prone to high winds, heavy rains, and hurricanes, such as Northern Maryland, you might save money on your insurance premium by passing a wind mitigation inspection. A roofing inspector will assess your roof, windows, and doors to determine the safety and quality of the roof and window seals, how the roof attaches to the home, and whether it meets certain code requirements and safety standards.

Secondary Water Resistance

Roof replacements that have Secondary Water Resistance or a Sealed Roof Deck qualify for bigger homeowner’s insurance discounts. SWRs are underlayments that are applied to the roof deck’s sheathing or a foam adhesive. Standard underlayments and hot-mopped felts do not qualify.

Increasing Your Chances of an Insurance Discount

After investing in a roof replacement, you should contact your homeowner’s insurance company to let them know. They may want the name and license number of your roofing contractor to confirm that they are qualified to perform roof repairs and roof replacements in your state. You will also have to provide photo documentation. Your insurance provider may send someone to your home to complete a roofing inspection, or may ask for additional documentation and paperwork, clarification about details of your claim, and proof of your roof’s warranty terms.

You are very unlikely to get a discount on your premium if you DIY roof repairs or don’t use a licensed roofing contractor. Your claim will be denied if you can’t prove you used a licensed roofing contractor. Keeping up with roofing maintenance and roof repairs will give you a better chance of maintaining lower homeowner’s insurance rates.

Schedule a Consultation for a Roof Replacement in Northern Maryland

At Harford Roofing & Exteriors, our roofing contractors are fully licensed, bonded, and insured—as well as GAF certified. We can help you determine whether roof repairs or a roof replacement would be more cost-effective, and help you choose roofing materials that give you the best chance of improving the safety, comfort, and value of your home. We can also offer advice regarding roof insurance discounts. Call us today at (443) 292-6020 or request a quote for the cost of roof repairs.