When you purchase your home, you are required to obtain homeowners insurance to cover roof repairs and maintenance in the event of significant structural damage. The damage could occur as a result of a fire or a natural disaster. You may be a homeowner that has to replace the roof because it is old and no longer fit to protect the house. The question that may be going through your mind is how much of the expense will the insurance company cover without you suffering from a rate increase.
If you’re moving into a home, the condition of a roof will also determine how high the premium rates are when you first take out insurance. The bottom line: the state of the roof on your house determines the market value of the property, which, in turn, determines what the insurance rate will be to protect the home.
Hail, Snow, and Storm Damage
In any severe weather event, the roof is usually the component that will take the most abuse. For this reason, the roof is the most prominent factor affecting your insurance policy. A significant portion of the plan is dependent on if the roof is in excellent condition. If not, you may be looking at higher insurance rates than you’re willing or able to pay. Roofs in Minnesota have to be able to withstand torrential rains, massive blizzards, ice dams, thick blankets of snow, and the occasional tornado threat. If the roof on your home can’t hold up to this type of weather, you need to call a The Construction Group roofing contractor right away to restore your roof.
What Do Insurance Companies Assess?
When assessing the condition of your roof, insurance qualities look at these factors:
The Age. The typical home warranty lasts anywhere from two to ten years. What that means is that you should expect your roof to require maintenance after the second year of construction. The maintenance we have to perform is minimal and saves you a lot of trouble down the road. If we have to repair an older roof, we could be looking at some extensive work or even a roof replacement.
The Condition. The condition of the roof depends on several factors: quality of construction, material, when the company built it, how well the owners maintained it. If you have an older roof that was well maintained, your insurance rates should be lower. A new roof with a lot of problems, however, can cause the prices to spike.
The Materials. Yes, the roofing material we install makes a difference to insurance companies. You may get a better insurance rate with a metal roof than you will with asphalt shingles. Insurance companies will also look at flashing, gutters, decking, vents, and other materials we install in the building to determine a final monthly premium on the policy.
Contact The Construction Group for Roofing Maintenance
If you’re looking for a roofing contractor in Woodbury, Minneapolis, or St. Paul, Minnesota contact The Construction Group. We provide a complete list of roofing services residential roofs. Our services include roofing repair, roofing replacement, inspections, and ongoing maintenance. To schedule an initial consultation or get a free estimate, call us today at 651-731-5857.