19 Jun 2017

Roofing And Your Homeowner’s Insurance Policy

Roofing and Homeowner's Insurance PolicyMany homeowners in Florida are unaware of how your home’s roof can affect your homeowner’s insurance policy. Not only can it affect the insurance policy, it can affect your ability to even be granted a policy. Did you know that many states will charge you higher premiums, deny coverage on roof damage, or even deny you a policy if your roof is over a certain age? You need to know why this is so important?

How A Roof Can Affect Your Homeowner’s Insurance Policy

The housing market is on the rise, and this means that people will be more selective when buying a house. So if you are preparing to buy a home, you should put careful consideration into the roof of the home. If you make the mistake of buying a home with a roof that is 22 years old, there is a good chance you will be denied a homeowners insurance policy. Even if your roof is 14 years old with a 15 year life expectancy, you will likely be charged a higher premium since there is only one year of life expected for the roof.

An Old Roof Lowers A Home’s Value

If you are preparing to sell a home, this information is quite relevant as well. An old roof can be an instant deal breaker for home buyers. And with more people buying and selling homes, having an aged roof will drive the selling price of a home down substantially.

With all of this in mind, here are a few quick tips to protect your home:

  1. Keep organized documentation on anything related to your home’s roof (roof replacements, repairs, etc).
  2. Have your coverage reevaluated whenever you have services done on your roof such as roof replacements and repairs.
  3. Regularly have a professional come out and do roof inspections.
  4. Consider replacing your roof if it’s older than 15 years. This is because if your home’s roof is ever destroyed, your insurance may not cover the full replacement cost if the roof is old.
  5. Read up on this subject and speak with your insurance company about the specifics of your policy.

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