In this article, we will explore the elements of flat roofs and roofs in general which will influence the cost of your home insurance.
The roof serves as your home’s primary safeguard against weather hazards such as hail, wind, and fire. This is precisely why insurance companies take into account factors like the age, condition, material, and structure of your roof when determining your insurance premiums.
Here’s how different roof types rank in terms of insurance costs (from lowest to highest):
Metal
Resilient and fire-resistant, metal roofs are typically favored by insurance companies.
Slate/Tile
Slate is resistant to fire, rot, and insects, requiring minimal maintenance. Tile, although more prone to cracking, offers excellent insulation and is resistant to rotting and burning.
Asphalt Shingle
The most common and cost-effective roof type, asphalt shingles have a relatively long lifespan but may deteriorate more easily compared to metal or slate roofs.
Wood
Made of shingles or shakes, wood roofs lack fire resistance. Some insurance companies may decline coverage for wood roofs or require fire-resistant treatments for coverage.
Age
It’s evident that newer roofs command better home insurance rates. Older roofs pose higher insurance risks, and certain insurers may decline coverage for roofs that are too old.
Shape
While not as critical as the material, the shape of your roof can also influence your home insurance premium. The most prevalent roof shapes are gable and hip.
By understanding how these factors affect your home insurance premiums, you can make informed decisions regarding your roof and ensure adequate coverage while minimising costs.
