Hail Resistant Roof Home Insurance Discount

Hail Resistant Roof Home Insurance Discount

Almost nothing makes a homeowner cringe more than watching a hailstorm roll over the neighborhood. As golf ball-sized hail loudly drops onto your roof, deck, and car you wonder how much the damages will cost you. Seeing the hail collect in your yard like little piles of snow, you hope that the hail hasn’t caused even worse damage, like a leaky roof.

After a hailstorm in March 2000, a restaurant in Texas suffered great damage. The hail damaged the roof, letting rain in through the ceiling which damaged the appliances in the kitchen. Unfortunately, this type of incident is all too common.

The out-of-pocket costs associated with a hailstorm can be high, especially if you don’t have the proper home insurance coverage. If you do have the right policy, you’ll only have to pay the deductible to have your roof replaced. Your savings could be even greater if you invest in a hail-resistant roof. Using the right materials may result in a hail-resistant roof home discount on your annual premium rate.

The Discount

Insurance companies spend billions of dollars each year paying out claims related to hail-damaged roofs. Damaged shingles caused by hail can reduce the protective covering on the outside of the tiles. This exposes the asphalt under the shingles which can become worn by the sun. The weaker structure is then more prone to letting in rain. This can be resolved by investing in a roof comprised of stronger materials.

Insurers want to ensure that your house is best protected from the elements. Having a hail-resistant roof is the best way to do that. To offset the costs, speak to your independent insurance agent to find out if they offer the hail-resistant roof home discount.

The discount rate varies between each insurance company, however you could be saving between five and ten percent. The hail-resistant roof home discount is quite common. For example, a survey showed that 22 out of 28 insurance companies in Texas offered a discount for having a hail-resistant roof.

Once you have installed a roof made of impact-resistant products, the discount will take effect immediately. If you pay your premium monthly rather than annually, then the discount will begin with your next bill. Homeowners who have their mortgage company pay the home insurance will receive a check in the mail for the discounted amount.

Qualifying Products

In order to qualify for the discount, insurance companies require that homeowners install roofs made of certified impact-resistant materials. The products must be rated by the Underwriter’s Laboratory (UL) 2218 classification system. Steel balls falling at 90 mph are dropped onto the roofing materials to test their strength. The ratings range between Class 1 and Class 4, with Class 4 products being the most durable.

The impact-resistant roofing products are stamped with a UL 2218 rating. They can withstand heavy hailstorms and strong winds up to 110 mph. They come in a variety of materials, including cedar wood shakes, asphalt shingles, polymer roof tiles, PVC, rubber, recycled resin, steel or copper panels, and aluminum shingles.

Your independent insurance agent can provide you with a list of local vendors who offer hail-resistant roofing products. They will also let you know the discount rate for each UL 2218 class.

According to Madelyn Flannagan, a vice president for the Independent Insurance Agents & Brokers of America, “Insurers definitely are giving discounts for Class 4 because, if your roof blows off in a rainstorm or nor’easter, the water damage is going to be substantial, resulting in a much larger claim…They definitely want you to protect yourself against that.”

The Costs

Of course, it’s important to keep costs in mind when installing an impact-resistant roof. Class 4-rated materials are the most resistant to hail and elements, but they are also the most expensive. Typically, it can range between $1,800 and $2,500 more than roofing materials that have a lower rating.

The initial costs of installing a hail-resistant roof will be higher than the discount. However, if you live in an area that is prone to one or more hailstorms per year putting you at risk for a roof replacement, it may be worth the investment in the long run. Your roof will weather the hail, you won’t have to contact your insurance company to start a claim, you won’t have to pay the deductible, and you won’t be at risk for a hike in your annual premium rate.

Speak to An Agent

Contact your independent insurance agent today to discuss installing a higher quality roof. They will provide you with additional information about the UL 2218 classification system and help you take the necessary steps so that you can benefit from the hail-resistant roof home discount.

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Enhanced Insurance is not written by attorneys. If you’re looking for legal advice, you need to contact a lawyer. Further, insurance practices and forms change constantly and are varied from state to state. For definitive answers in your area, contact a local agent.

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