Does Getting a New Roof Lower Insurance?

The Link Between Roof Condition and Insurance Costs

A home’s roof serves as its primary defense against the elements, and its condition significantly influences homeowners insurance premiums. Insurance companies assess risk when determining policy costs, and a well-maintained or new roof presents a lower risk profile. An older roof is more susceptible to damage from wind, hail, and water intrusion, leading to more insurance claims. This increased risk translates into higher premiums for homeowners.

Conversely, a new roof reduces the potential for costly damages, which insurers view favorably. Newer roofing materials and proper installation minimize leaks, structural issues, and other weather-related damage, lowering potential payouts. Insurers may also consider older roofs “uninsurable” or impose stricter guidelines, sometimes requiring inspection or replacement to maintain coverage. Replacing an aging roof can thus shift a home from a higher-risk category to a lower one, making it more appealing to insurance providers.

Key Factors Influencing Potential Savings

The extent to which a new roof can reduce insurance premiums depends on several specific factors. The age of the old roof plays a substantial role; replacing a roof 20 years or older typically yields greater savings. Many insurers become cautious or may increase premiums for roofs exceeding 15-20 years of age.

The type of new roofing material also directly impacts potential discounts. Durable materials like metal, slate, or tile offer superior protection against fire, wind, and hail, often leading to lower premiums due to their longevity and resilience. For example, metal roofs can last 40-70 years and are fire-resistant; slate and tile roofs are also highly durable, lasting over 50 years. Asphalt shingles, while common and affordable, offer moderate resistance, and their insurance impact can vary based on their specific fire and impact ratings. Some insurers may offer discounts for materials with Class 4 impact ratings for hail resistance or Class A fire ratings.

Geographical location and local weather risks also influence savings. In areas prone to severe weather events like hurricanes or hailstorms, a new, more resilient roof can significantly mitigate risks, leading to more substantial discounts. Insurers may offer greater incentives for roofs designed to withstand specific regional perils. Additionally, an insurer’s specific underwriting guidelines and discount programs will vary, meaning potential savings can differ from one company to another. Some companies may offer discounts ranging from 5% to 35% on premiums for a new roof, with a national average often cited around 20%.

Notifying Your Insurance Provider and Documenting the Change

After a new roof installation, homeowners should proactively inform their insurance provider to potentially realize premium savings. The first step involves gathering all relevant documentation related to the roofing project. This includes copies of the roofing contract and invoices, which should clearly show the cost, date of installation, and specific materials used.

Also obtain documentation from the roofing contractor, including certifications, licensing, and warranty information. Before-and-after photos of the roof, if available, can serve as visual evidence of the upgrade. Any inspection reports or permits obtained for the new roof installation should also be included. This comprehensive collection of documents provides the insurer with the necessary details to re-evaluate the home’s risk profile.

Once all documentation is compiled, contact the insurance provider to request a policy review or re-evaluation based on the new roof. This can typically be done by calling an agent, utilizing an online portal, or sending an email. Submit all collected documentation through the insurer’s preferred method, such as email, mail, or online upload. After submission, expect confirmation from the insurer, potential follow-up questions, and information regarding the timeline for any premium adjustment. Some insurers may also send their own inspector to verify the replacement before approving a discount.