Home insurance is a topic that’s on everybody’s mind here in Central Florida today.
It’s been said that Florida is in the midst of a home insurance crisis, with lawmakers seemingly having a new plan to fix it every few months. “Insurer accountability” is the new watchword from the legislators in Tallahassee, which could see insurers penalized for certain forms of wrongdoing.
You might still have to fight your old insurer in court if you suspect they’ve done you wrong. But there is one bright spot that has the chance to make a difference for Central Florida homeowners like you.
Under the new rules, insurers will no longer be allowed to drop a policyholder until after the repairs on their home have been completed. In other words, you might get a reprieve from losing your insurance policy as long as you can bring your home up to the standards required.
That is a big deal – and it may just be time to look at getting a new roof in Central Florida.
The Age of Your Roof Can Be a Point of Contention with Your Insurer
Most Central Florida homeowners need to have home insurance. This is the insurance that helps protect your home (and much of its contents) against disaster. Fires, theft, and a variety of other issues are covered by home insurance up to a particular value.
Mortgage lenders almost universally require homeowners to hold this form of insurance. And even if you own your home outright, you still benefit from having it. The problem comes in when you are still paying off your mortgage and your insurer decides to withdraw your policy due to the age of your roof.
Most lenders won’t allow you to go without insurance, since it helps ensure you won’t default on your loan. But if your insurer pulls your policy and you can’t replace it, you may end up paying much more than you otherwise would. Your lender will buy a policy directly and pass the extra costs on to you.
Technically, insurers can use many different reasons to terminate a policy. But until recent years, the vast majority of terminations were related to non-payment. Only over the last decade or so have the insurers in Florida started aggressively pulling policies based on the age of your roof.
This makes good business sense for them since the age of your roof is relatively easy to verify. While most shingle roof manufacturers promise their roofs will last for 20 years or more, insurers want to prioritize roofs that are 10 years old or less.
Not only is that a problem during the life of your home, but it can also mean it’s impossible to sell it. Buyers might walk away after the home inspection, or lenders might refuse to finance the purchase.
For all these problems and more, it’s a new roof installation to the rescue.
A New Roof Can Actually Lower the Cost of Your Home Insurance Policy
No matter what kind of new roof you choose, it can improve your reputation with your insurer.
In fact, you may even find that you pay a lower insurance rate than before.
Remember: Insurers are proactive about raising your rates, but they usually need a little encouragement to lower them. So, if you choose to get a new roof in Central Florida, get everything documented so you can let your insurer know about it. It can take weeks or even months for them to review your policy.
Your Central Florida roofing contractor can help by verifying what kind of roof was installed and what materials were used. During new roof installation and complete roof replacement, your roofing expert can also look at the waterproof underlayment and structural timber of the roof.
Under Florida’s wind mitigation standards, roofing contractors who install your roof according to the latest best practices can document what they are doing step by step. With appropriate photos and written statements, you might be able to trim a significant percentage off your insurance rates.
Any New Roof in Central Florida Can Qualify for Savings
No matter if you choose a shingle roof, residential metal roofing, clay tile, concrete tile, or even a flat roof, you have the potential to unlock savings on your home insurance. However, there are some roofs that may be even better than others.
While a shingle roof offers you the lowest cost per square foot, it does not usually deliver the best in insurance savings. This is because it needs annual maintenance and has the shortest lifespan of the different roofing options. Still, a new shingle roof is much better than an old one!
If you are looking for the strongest case to reduce your insurance premiums, you might find it with a residential metal roof. These roofs have substantial advantages over even the best shingle roofing:
- They are highly resistant to all Florida’s weather hazards, including wind, rain, and hail
- They deflect about 50% of solar radiation, reducing both your cooling and heating costs
- They resist the growth of mold and mildew and highly discourage pests like roof rats
- They are hard to damage and, if ever necessary, individual panels are easy to replace
- With appropriate maintenance, they can last 50 years or more – and insurers recognize this
Since you can get residential metal roofing inspected once every other year, you’ll end up paying about half as much on regular maintenance. Combine that with the HVAC savings during the summer and the possibility of a lower insurance payment and your metal roof can pay for itself over time.
Tile roofs are also popular with insurers. Not all Central Florida homes can bear the extra weight of a tile roof, but for those that can, they may last over a century. Clay tiles offer a beautiful natural red color – it only looks better as years pass. And because of their weight, they’re all but invulnerable to wind uplift.
Last but not least is the flat roof. A flat roof can be a terrific place to put a garden or situate your solar panels. With the right panels, you can cut your electricity bill in half! That said, flat roofs can be tricky because of the way their weight is distributed. Get advice from a Central Florida roofing contractor you trust before you get your heart set on one.
Whatever Roof Is Right for You, Sheegog Contracting Is Here to Help
Even the best roofing technology won’t get you ahead unless it’s installed by a team of experienced roofing professionals. Let Sheegog Contracting show you the difference our proven five-step process makes. It’s never been easier for you to get the roof you want – and we’ll provide you with all of the documentation of your new installation to show to your insurance provider.
Ready to get started? Contact us to find out more or get your complimentary roof estimate.