If you’re looking to save money in the long run, spending some on roof repairs now may help.
That’s because, keeping up with roof repairs can be important for keeping your insurance up to date, and even to earning discounts. A recent list of ways to save on homeowners insurance from Consumer Reports includes roof repairs.
According to Consumer Reports, “A number of insurers will trim premiums for customers in areas prone to hurricanes, tornadoes, or wildfire, for example, if they purchase a “fortified” roof made of stronger materials, says Susan Millerick, a spokesperson for the Insurance Institute for Business & Home Safety, based in Tampa, Fla.”
Even if you don’t expect to save money on premium discounts, roof repairs may be important to making sure your insurance is at least current.
According to Insurance.com:
Some insurers have refused to renew existing homeowner insurance policies on houses with roofs older than 20 years without passing an inspection. Those who fail inspection will not be renewed without a roof replacement.
Other insurers don’t write new policies for homes with roofs over 20 years old and they will only pay actual cash value for roof replacement for older roofs when they’re damaged. This means they don’t pay to fully replace the roof, but only reimburse for what an old roof is worth after 20-plus years.
“If you have a roof that has lasted 20 years, then you’ve probably exceeded the roofing membrane life expectancy,” says Gerald Delaune, senior building envelope consultant at Childress Engineering Services Inc. in Richardson, Texas. “Chances are that at that point, there are issues within the roofing system that cannot be seen (such as moisture within the system), which could potentially deteriorate the deck and that it would be worth your money to replace the roof.”
Such factors make it worthwhile to be sure your roof is up-to-date and in the best shape possible.