The Right Roofing Companies in Moorhead, MN Can Lower Your Premium

In an article published on Yahoo! Finance, Jay MacDonald explains that the quality and make of your roof can greatly affect your home insurance premiums:

5 roof“The roof is the first layer that wind, hail, wildfire and other hazards really begin to act on,” says Tim Reinhold, chief engineer at the Insurance Institute for Business and Home Safety, an independent, nonprofit research organization based in Tampa, Fla. “In more than 90 percent of hail or high-wind claims, there is a payout relative to the roof cover.”

Because insurers have a vested interest in your roof, they price your home insurance accordingly, based on the soundness of its construction and what it will cost them to replace it. Note also that premium incentives and disincentives for roof types vary widely by company and location.

Neglecting to replace your decades-old roof could force you to rely on expensive insurance groups that only handle high-risk clients. Not all groups are open to dealing with homes that have weak roofs, but if you have a new roof made of impact-resistant materials, you just might be able to get yourself a discount. The figure varies, although people who live in areas susceptible to strong winds, snowfall, and hail can get a discount as high as 20%.

Ask any number of Moorhead, MN roofing companies, such as AB Improvements, about typical roofing materials and they’ll probably start with asphalt shingles; their affordable price, light weight, and fire-resistance are all favorable qualities. The downside is that the high winds that come in winter could tear them off easily. Clay tiles, by contrast, can last a lifetime if installed correctly yet their replacement cost could mean higher premiums.

Meanwhile, wood shakes lend a classic look to your roof but possess little defense against fire and rot. Slate roofing has greater impact resistance but is expensive and heavy. Insurance companies give the highest discount to those with metal roofing, though the high initial cost tends to discourage homeowners on a budget.

Aside from Moorhead, nearby Fargo has roofers who are well aware that their area is high on the list of states that experience the most snowfall annually. Days of snow and some hail could leave roofs in bad shape, and that’s why homeowners looking for a new roof should choose one built only with the best materials.

(Article Excerpt and Image from 5 roof types and their home insurance impacts, Yahoo! Finance, November 12, 2013)

About Todd Bischoff

Bischoff has written 42 post in this blog.

This entry was posted in Blog, Industry News. Bookmark the permalink.