Can I use my roof insurance claim to switch to metal roofing?
In general, insurance policies are designed to replace damaged or destroyed property with the same type of property. However, if your policy covers the replacement of your damaged roof, then you may be able to use the funds to upgrade to a metal roof instead of replacement with a traditional shingle roof. Here’s how.
If you would like to change from your existing roofing material to a metal roof, the occasion of an insurance settlement is often the perfect opportunity. With most claims, the homeowner is only responsible for the deductible amount of their policy. Total out-of-pocket expense would be the deductible amount plus the cost difference between re-roofing with the existing material and metal roofing. For many, this makes an insurance claim resolution an ideal time to upgrade to a superior metal roof with less out-of-pocket expense.
It’s your right to choose.
If you have experienced roof damage and are unsure whether your insurance policy will cover a metal roof, you should contact your insurance company to discuss their options. Before making any decisions, it’s also a good idea to contact a reputable roofing contractor to help you understand your policy coverage and provide an estimate for the cost of installing a metal roof compared to the replacement cost of an existing roof.
While the initial cost of a metal roof is typically higher than an asphalt shingle roof, the benefits of metal roofing may provide 2-3 times the life of a standard shingle replacement and can save you money in other ways. It’s important to consider the long-term benefits and value of a metal roof, including its longer life, durability and potential energy savings, and increased home value compared to a standard roof.
Using your roof replacement insurance settlement is often a great opportunity to upgrade your roof to a durable, long-lasting metal roof and enjoy its benefits and worry-free protection for decades.
A metal roof may reduce your insurance costs.
It’s also worth noting that in some cases, insurance companies may offer discounts or incentives for homeowners who choose to install certain types of roofing materials, such as metal roofs, which are more durable and resistant to weather-related damage. Many insurance companies consider a metal roof to be a lower risk than traditional roofing materials such as asphalt shingles. As a result, some companies may offer discounts or lower premiums for homes with metal roofs and that should be considered into the value equation.
The amount of the discount or lower premium will depend on your specific insurance policy and your insurance provider, but it’s not uncommon to see discounts of 5% to 35% on homeowner’s insurance premiums for homes with metal roofs. It’s important to note that not all insurance companies offer discounts for metal roofs, so it’s also worth discussing this with your insurance provider as you consider your roofing decision.
In Florida, can an insurance company drop my coverage if my damaged roof isn’t replaced?
In Florida, insurance companies may have specific guidelines for homeowners regarding the condition of their roof, including whether or not it needs to be replaced. If a homeowner fails to maintain their roof in good condition or does not replace a damaged or worn-out roof, it is possible that their insurance company may decide to drop coverage or not renew their policy.
The specific circumstances under which an insurance company may deny coverage for a roof that needs to be replaced may vary depending on the insurance company and the terms of the homeowner’s policy. In general, insurance companies may consider factors such as the age of the roof, its condition, and the likelihood of damage occurring due to the roof’s poor condition.
In May 2022, the Florida state legislature implemented new roof requirements for homeowners insurance after a number had their policies cancelled. The new legislation blocked insurance companies from denying coverage solely based on roof age if it is less than 15 years old. For roofs older than 15 years old, homeowners are allowed to have an inspection of the roof’s condition to be performed before and insurance company can deny coverage.
Homeowners should review their insurance policy carefully to understand what is covered and what is not, as well as any requirements for maintaining their property in good condition. They should also stay in regular communication with their insurance company to discuss any concerns or issues related to their roof or other aspects of their property that could affect their coverage.
If a homeowner is unsure whether their roof needs to be replaced or if they have questions about their insurance coverage, they should consult with a qualified roofing contractor and their insurance company to discuss their options and get advice on how to proceed.
About 1st Coast Metal Roofing Supply
Protect your home from Florida’s extreme weather conditions with durable and reliable metal roofing solutions from 1st Coast Metal Roofing Supply. As the leading metal roofing manufacturer and supply company based in Florida, we offer a wide range of high-quality roofing materials that are designed to withstand hurricane-force winds, tropical rainfalls, and the harsh UV effects of intense sunlight. With our expert guidance and exceptional customer service, you can trust us to provide you with a roof that not only looks great but also lasts for years to come.