How Your Roof Can Impact Your Homeowner’s Insurance Rates

We have homeowner’s insurance to provide us with peace of mind and protection from financial disaster due to various circumstances. If you get ill, your medical insurance is there to help. If you get in a car accident, you auto insurance is there to help. Or perhaps, your home might suffer a fire or water damage — homeowner’s insurance is there to help. As a roofing company near Geneva with over 40 years of experience, we know that not all insurance policies are created equally. Additionally, factors like the condition of your roof can have an impact on your cost. You may assume that an older roof may be cheaper to cover like an older car would be. However, insurance companies generally view a newer roof as safer for your house and lowers the risk for the need of making an insurance claim. This can lead to lower rates for you.

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Factors That Impact Insurance Rates

There are several factors that impact your insurance premiums. Based on these factors, you can determine the best strategy with your roof to get the best rates under your coverage.

Age of the Roof

How long your roof has been on you house has a major impact on your deductible. If your roof is 10 years or newer, most insurances will provide you with a discount. On the other side, roofs over 15 years can see an increase in prices. This comes down to the fact that an older roof usually comes with an increased risk of damage and insurance companies will want to protect themselves from the expected costs of repair or replacement.


The materials used for your roof will also determine your coverage rates as well. If you replace your existing roof with the same materials, you will find that your coverage will be similar, but you could see cost savings. You will need to pay attention if you choose to change materials. For example, asphalt shingles are often less costly to insure than cedar shingles. This can be attributed to cost of materials, damage risk, and where you live.

Available Coverage

One of the most important factors in determining your insurance coverage is what is even available for you. You may have a limited number of companies offering minimal choices. Additionally, the companies you have may determine the limits as to what they can offer you. If they choose to inspect your roof and determine the risk for damage is too great, you could find that they refuse to offer you coverage. This do not necessarily mean that you can never qualify for coverage in the future, but it may mean that you need to address issues, which could include roof replacement, prior to being able to purchase coverage.

Understanding Your Deductible

Insurance is usually broken down between two components: The Deductible, and the Premium. When you are choosing your policy, it is important to understand the impact of these aspects of insurance. A premium is your regular payment you make to the insurance company for your policy. This payment doesn’t usually change unless your policy changes. If you need to make a claim against your insurance, this is where your deductible comes into play. This amount is dictated by your policy and is what you will pay to start the claim. If your claim costs less than the deductible, you will be 100% responsible for the cost of the repair. If, however, the repair costs more than the deductible, and the claim is approved, your responsibility will be capped by the deductible amount.

For a roof, you can still end up needing to pay higher out-of-pocket costs if you have a policy that provides Actual Cost Value instead of Replacement Costs. Under Actual Cost Value, the insurance company will provide you with a payment for the value of the repair. When the actual repair ends up costing more than their estimate, you would be responsible to make up the difference. If your policy provides Replacement Costs, your insurance company would be responsible for paying full costs to replace the roof.

Are you looking for a roofing company near Geneva IL to help navigate your roofing needs? Contact Davis Roofing Companies at (888) ROOF-881 or book an appointment online for your Free Roofing Estimate! We are you trusted roofing experts.