Does a metal roof lower your insurance in Florida? Floridians can be wary of natural disasters, with nearly every homeowner concerned about protecting their home during hurricane season. Of all of the damage that might result from a hurricane or severe thunderstorm, roof damage could prove particularly severe.
Your roof is your home’s primary protection against hail, wind, fire, and other hazards. That’s why insurance companies consider the age, condition, material, and shape of your roof when determining your insurance coverage and costs. In general, your homeowner’s insurance may cost less if you have a newer roof made of more durable materials, like metal.
Florida Home Insurance and Your Metal Roof
While the initial cost for a premium metal roof is higher than most other roofing materials, you’ll save money in the long run.
A metal roof can even lower your homeowner’s insurance by 25%. And a metal roofing system offers unmatched durability, lasting 3 times longer. Chances are good that a metal roof will be the last roof you ever install on your home.
Insurance companies won’t have as many claims to cover roof replacement or repair for homes with metal roofs. Your insurance provider could save you money every month by notifying them that you have switched to metal roofs and asking for a reduction in premium.
Your insurance premiums will depend on your individual circumstances, and not every insurance provider may reduce them even when it makes sense to do so.
Lately, insurance companies have started to offer policy discounts for impact-resistant roofs that have a Class 4 rating. Most metal roofs are classified as having a Class 4 impact resistance rating, but it is critical to verify that UL 2218 testing has been done before buying metal roofing panels. You can always ask your metal roofing supplier whether the metal roofing is UL 2218 certified.
Why Do Metal Roofs Help Lower Insurance Costs?
Insurance companies can find it very expensive to cover roof replacements and repairs in the event that storms or fires cause damage. Metal roofing systems offer better protection than other materials. Your insurer may provide discounts on this home improvement. Some homeowners have saved up to 25 percent on their insurance premiums after installing a metal roofing system.
The coverage policies can vary greatly depending on your insurance company and where you live. Ask your insurance provider about discounts for metal roofs to ensure that you receive the savings.
As previously noted, quality can vary significantly among metal roofing providers and installation companies, so subpar systems or installations likely wouldn’t do much to strengthen the protection of your home and reduce insurance rates. Choose a metal roofing contractor who specializes in the installation of these products and uses only trusted manufacturers.
Roof Requirements for Homeowners Insurance
Homeowners insurance providers may closely inspect your roof’s condition before offering or continuing home insurance coverages. Roof insurability depends on various factors, such as:
- Age: The age of your roof and insurance coverage go hand in hand. A newer roof may mean a lower rate. A roof that’s 20 years old or more may be ineligible for coverage or only be covered for its actual cash value.
- Condition: Insurance companies are looking for roofs that are in good condition with no visible signs of wear or tear.
- Material: A metal roof is considered more stable and may earn you a lower rate. A wooden roof isn’t fire-resistant and poses a risk, resulting in a higher rate or may make you ineligible for a policy.
- Shape: Gable roofs and hip roofs are the two most common roof types. Their different designs affect their susceptibility to damage, and therefore impact the cost to insure them. Hip roofs tend to perform better during windstorms and discounts may be available in coastal areas.
You can select your roof material and shape during the quote process–making it easy to see how your roof type affects your insurance price. Some roofs may not be eligible for a policy based on the age and material. If it qualifies you would then be able to purchase a policy. Once you have a policy the insurance company will often inspect the property to ensure the age and condition of the roof actually qualifies.
How Roof Age Impacts Insurance Costs
Generally, the newer the roof, the better your home insurance rate. An older roof can have unforeseen issues such as water damage that can cause deterioration and increase the need for replacement.
If your roof is 20 years old or more, some insurance companies will require an inspection before offering coverage. Other insurers may only cover the actual cash value of your older roof, meaning you’ll be on the hook for the remainder of the costs. And some may outright refuse to write a policy for a home with a roof that’s more than 20 years old.
Florida Homeowners Insurance Policy
Florida homeowners insurance helps pay to repair or rebuild your roof if it is damaged by a covered loss. A typical policy would include structural damage from fire, leaks, water discharge, fallen trees, or a storm.
If you live in Florida and haven’t had your roof replaced since 2002, it may be a good time to do so. It is certainly the best way of lowering your Florida homeowner’s insurance premiums. You could see a reduction in your premium of anywhere from 15-25%.
However, you will most likely need to order a Wind Mitigation Inspection form. Then you need to submit it to your homeowner’s insurance carrier. Notify your insurance agent concerning any updates that you make to your house because they might provide you with savings.
Final Thoughts – Does a Metal Roof Lower Your Insurance in Florida?
The type of roof you have can impact your Florida home insurance rates. While flat roofs may not be favorable, a metal roof can lead to potential cost savings. Consider upgrading to a metal roof with All Star Roofing for insurance-friendly options. Contact us today to discuss your roofing needs and make your home insurance experience in Florida smoother.
Contact All Star Roofing to explore roofing options and lower your insurance costs!
Other Services We Offer
- ROOF INSTALLATION
- SHINGLE ROOFS
- TILE ROOFING
- FLAT ROOFING
- METAL ROOFING
- EMERGENCY ROOF REPAIR
- HURRICANE HELP