While most GAF roofing systems are designed to withstand almost anything Mother Nature can throw at them, sometimes, an unusually strong storm or a damaging accident can leave your roof looking like it’s seen better days. These types of problems can often cost you hundreds or thousands of dollars.
Thankfully, this is where home insurance comes into play. Having a comprehensive insurance policy can give you peace of mind knowing that whatever happens to your roof, you won’t suddenly find yourself in the red for a massive and unexpected repair or replacement bill. Of course, insurance usually comes with monthly premiums, the cost of which can be affected by the current condition of your roof. Here’s how the state of your roof and your insurance premium is connected.
Home remodeling and improvements like roofing upgrades are a great way to increase the value of your home. This increased value will often be reflected by an increase in your premium. The more costly it is for you to renovate your home, the more costly it will be for your provider to rebuild it in case of emergencies.
Older roofs tend to need more frequent repairs, which is why their premiums are also usually higher. On average, premiums are upped by 1% for every 30 years of your home’s age and, thereafter, increasing by 1% every 10 years.
In essence, building newer and better roofs can increase your premium just as well as having old and aging roofs. Luckily, you can work with your roofing company to find a good balance between these two conditions because most insurance providers also offer lower premiums if you are starting your policy with a brand-new roof.
At Pritchett Bros, we are your leading provider of roof repair, replacement and maintenance services. Give us a call at (812) 275-3185, or fill out our contact form and request a free estimate on roofing services today. We serve homeowners in Bloomington, Bedford and other nearby areas.