7 Factors That Affect the Cost of Roof Insurance

May 2, 2022

There are many factors affecting the total cost of your roof insurance. Premiums change their rates according to the roof materials, recent upgrades, general property age, and more. Out of the many factors, here are seven that you should always keep in mind.

Roof Shape 

The roof's shape determines your insurance premiums. Flat roofs have higher premiums because they face much higher volumes of foot traffic, likelihood of hailstone impacts, and standing water. High-sloped roofs have much lower premiums due to these factor's absences. 

Roof Materials

Asphalt shingles have a set standard premium rate from most insurers because of its widespread use and reliability. However, slate tiles and metal roofs have lower premiums due to their reliability and dependability, despite their high acquisition costs. Other roofing materials may have special clauses that can increase or decrease their overall premium costs.

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Overall Property Age

Roof care and longevity is holistic. Your roof rafters depend on your concrete wall's structural stability and reliability. Consequently, the walls are highly dependent on your property's structural foundations. With this in mind, your roof insurance premiums can derive from your general property insurance.

Local Weather

If your local weather has frequent hail, rain, and snowstorms, your insurer will likely have high insurance premiums in your area. However, it means that local insurers understand your plight and create special insurance policies that are simultaneously affordable and offer great value. After all, insurers need flexibility to remain competitive in the market.

Roofing Construction Material

Roofing construction materials refer to the materials your contractor used in building your rafters, underlayment, nails, adhesives, and others. Insurance adjusters will visit and inspect these areas with professional roofers to assess the roof's complete risk profile. Using high quality construction materials drive down insurance premiums because of their perceived dependability and lower danger or failure risk.

Previous Claims In The Past

Insurers are particular about homeowners who have made insurance claims in the past. While it's the industry's core part and service, successful insurance claims have a negative connotation to a customer's risk profile. With this in mind, if you have made successful claims in the past, you may pay a higher premium due to your perceived risk profile, but you can always find competitive rates from insurers that don't heavily weigh on your claims history.

Recent Preventative Maintenance

Preventative roofing maintenance gives you a complete roof material condition overview. Plus, professional roofers can fix small problems on your roof. Preventative maintenance guarantees zero growth of structural damages and risk that derives from small problems that most homeowners ignore. A well-maintained roof prevalent in your roof's maintenance history improves your insurance premiums.

With decades of experience in the roofing industry and making roofing claims, you can always count on us at Paramount Roofing & Consultation for all your roofing needs. We have made successful claims cases in the past, allowing our customers to renovate their homes with complete peace of mind. Contact us today if you need roofing insurance inspections and claims.