As a homeowner, your insurance covers your home’s damage. It also covers the loss and damage of your home’s belongings as well as roof repair costs with a monthly premium cost that varies for each state. It’s usually required by mortgage lenders to protect your home’s value, but you can also purchase it voluntarily to keep your home secure, especially during natural disasters.
However, depending on the type of home you have, your insurance premiums can often be expensive. If you’re wondering why your homeowners insurance has high premium rates, this could be due to several factors. Of course, there are a few ways to lower your rates, with one of the most beneficial being a metal roof replacement. But whether your premiums will be lowered after getting a metal roof can still depend on your insurance provider.
If you’re planning to get a new roof without increasing your insurance premiums, you won’t go wrong with a metal roofing system. But can it also lower your rates? Here’s what our roof repair and replacement team has to say:
What Affects Your Insurance Premium?
Several factors can determine your homeowners insurance premium. For instance, you might have some valuable appliances, furniture and belongings, as they tend to be covered by your insurance. You may need to pay for higher coverage if you own many valuable items or even add another policy if your standard insurance isn’t enough to cover your home.
A higher insurance premium helps in making sure you’ll receive enough compensation to replace any items that were damaged, destroyed or stolen. However, increasing the coverage also means increasing the cost of your premium. And if you have additional features, such as a jacuzzi or a swimming pool, these can increase the rates because they add more risk and often require greater liability coverage.
Where you live can also be a factor behind your high insurance premium. Living near a coast or in places that are prone to natural disasters usually equates to higher premiums compared to low-risk areas. Insurance premiums can also be more expensive in urban and highly populated areas, as they can be influenced by their local and state regulations.
The cost of your insurance premium can also be influenced by the age of your home and the type of materials installed. Homeowners insurance is partially based on how your home is constructed, which means nearly every aspect is accounted for. This includes the features, materials, compliance with current building codes, and even when it was built!
The type of roofing material is also factored in, as well as how it can fare against the usual weather conditions. If you have wood shakes installed, for instance, then your roof is at greater risk of fire. This means you’ll be paying higher premiums compared to other materials. This is why as a top contractor among roofing and restoration companies, we recommend upgrading to a metal roofing system.
Why Metal Roofing Is More Beneficial
- Better Energy Efficiency – Whether you get it in a light or dark color, a metal roof is more effective in reflecting heat during the summer, reducing your HVAC’s cooling loads, and consuming less energy each month. It’s also effective in insulating your home during winter, so you won’t have to worry about high energy bills all year round!
- Longer Warranties – A typical metal roofing system comes with a warranty of 40 years or more depending on the manufacturer. Some warranties even offer lifetime workmanship coverage for repairs, which makes it an appealing investment for your home.
- Higher Wind Resistance – Metal roofing products have been tested to withstand hurricane-force winds. That makes them one of the most wind-resistant roofing materials available, with wind warranties as high as 155 mph!
- More Value For Your Money – While the upfront cost of a metal roofing system will be higher than most materials, that only means you’ll save more money later on. Professional roofing and restoration companies may also recommend other materials such as asphalt shingles, which can last you around 18 years before you require a reroofing. But if you want to ensure you get lower insurance premiums, you’re better off with a metal roofing system. It also lasts about three times longer compared to asphalt and other materials, making it a great investment for your home!
- Better Sustainability – Metal roofs are typically made from 25 percent recycled materials. It becomes 100 percent recyclable when they need to be replaced, unlike other materials that often end up in landfills.
- It Won’t Rust – Many metal roofing materials are treated and suited for most types of roofing applications. They can outperform other materials and won’t corrode, peel, fade or chip throughout their expected lifespan.
- Better Heat Dissipation – You might be thinking that your home will be significantly hotter during the summer months when you get a metal roof. However, metal roofs can handle heat better than most materials depending on the color you choose. With a metal roof, the heat is either reflected into the atmosphere or absorbed through conduction into your home. The roof’s emissivity is then able to shed or dissipate the absorbed heat.
Metal Roofing and Your Insurance
Since a metal roofing system is more durable against the weather elements compared to other materials, it usually means there’s less risk for your insurance policy. Professional roof replacement contractors understand how a metal roof has higher impact resistance against hailstones. This also means the material is rated higher by most insurance commissions around the country.
And it’s because of the reliability and durability of metal roofs that most insurance providers are willing to lower their premiums. Depending on what type of insurance policy you have for your roof, your provider may be more than willing to lower your premiums. This is simply because having one greatly reduces the risk to insure your home, so the savings comes back to you!
When it comes to excellent roof replacement services, Anderson Restoration LLC always gets the job done. Call us today at (281) 376-7474 if you’re in Houston or Cypress; (817) 226-2111 if you’re from Grapevine. You can also fill out our convenient contact form!