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Your Roof’s Impact On Your Home Insurance Premium

By December 29, 2023January 3rd, 2024Insurance

How Much Does Your Roof Matter When Getting Homeowner’s Insurance?

Your roof protects your entire home. From top to bottom, if your roof is outdated, damaged, or dilapidated, it won’t be long until your entire home suffers the consequences. That is why it is vital you update your roof and let your insurance provider know. You could see the cost of your home insurance drop.

Insurance Discounts for Roof Upgrades

Your home’s insurance premiums may decrease if you update your roof. If you install impact-resistant roofing materials or make energy-efficient modifications, several insurance companies may give you a discount. These upgrades not only increase the durability of your house but also save long-term costs.

Negative Impacts Of A Neglected Roof

There are a variety of long term results of ignoring your roof and allowing your home to fall apart without the correct upkeep. All the leaks in your roof will lead to:

1. Structural Damage To Your Home

Whether it is caused by mold or constant exposure to water, your home’s structure will quickly degrade if your roof is not correctly protecting your home.

2. Mold Within Your Home

Where there is water in your home there will inevitably be mold. As water leaks from your roof into your walls and insulation, mold will start to grow.

3. Poor Heating & Cooling Conditions

As the seal of your roof is lost, the heat in the winter and cold air from your air conditioner will escape quickly. The efficiency of your home is directly impacted by your home’s roof.

4. Decrease In Your Home’s Value

Once a home sustains substantial damage from a leaky roof it can be difficult to recuperate the home’s value. Massive renovations and repairs will be needed.

Consequences of Roof Neglect for Insurance

1. Higher Home Insurance Premiums

Insurance companies evaluate risk when setting rates. Claims are more likely when a roof is neglected, as it is more likely to leak and sustain damage. Consequently, in order to counteract the perceived risk, insurance companies could increase your premiums.

2. Limited Coverage For Your Home

In severe circumstances, insurance companies could reject or restrict coverage for specific kinds of damage brought on by a poorly maintained roof. This implies that substantial repair expenses that are not covered by your policy may be incurred.

3. Possible Home Insurance Cancellation

Your home insurance coverage might be canceled if your roof is neglected for a long time. If your home is to dangerous to provide coverage for, an insurance company is obligated to cancel your coverage. In severe circumstances, this can lead to the termination of your policy, depriving you of the essential security that home insurance offers.

Contact Strickler Insurance For Homeowners Insurance

Your roof is a shield that protects your home from the elements. Make sure it is not only protected with a quality roof, but with a quality homeowners insurance plan. We are located in Lebanon, PA, and serve our local region as well as the entire state of PA. Contact us today.