Roofs and Homeowners Insurance: How Your Roof Could Be Driving Up Your Premiums

Over the past few years, many Wisconsin homeowners have noticed a significant rise in their homeowners insurance premiums. Double-digit increases have become the new “norm,” leaving many wondering what’s behind these inflated rates. If you’ve been affected, you might be asking: what gives?

The Rise in Homeowners Insurance Premiums

Homeowners insurance companies determine premium costs based on the likelihood that a policyholder will file a claim. Historically, Wisconsin has enjoyed relatively low premiums compared to other states because of our low incidence of catastrophic weather events. However, starting in 2022, Wisconsin began experiencing more frequent and severe wind and hailstorms. These weather patterns led to increased claims, and the claims’ costs skyrocketed due to inflation in building materials and labor.

As a result, insurance companies quickly adjusted their policies to protect themselves from financial losses, directly impacting homeowners nationwide.

How Your Roof Affects Your Premiums

One of the most significant factors influencing your homeowner’s insurance premium is the age and condition of your roof. Insurance companies now view older roofs or certain types of shingles as higher risks, leading to changes such as:

• More significant premium increases than in the past.
• Refusal to accept new policies on homes with roofs over 10–15 years old.
• No replacement cost coverage for roofs over 10–15 years old.
• Mandatory wind and hail deductibles, often as high as $2,500.
• No coverage for homes with 3-tab asphalt or wood shake shingles, regardless of age.
• Exclusion of cosmetic damage coverage for roofs, even after storm activity.

These changes have caused frustration among homeowners now facing higher premiums or out-of-pocket expenses when roof-related claims arise.

How to Combat Rising Premiums

If you have an older roof or one made of now-unacceptable materials, you’ll likely see higher insurance costs. The best way to combat these rising premiums and reduce out-of-pocket costs is to be proactive about roof maintenance and replacement.

Here are some steps you can take to lower your premiums and avoid costly claims:

• Replace your roof: Upgrading to newer roofing materials accepted by insurance companies can significantly reduce your premium.
• Schedule regular inspections: Catching minor issues early can prevent problems, helping you avoid filing a claim.
• Choose the right materials: Some roofing materials are more durable and storm-resistant than others, making a difference in how your insurer views your home’s risk level.

Protect Your Home and Your Wallet

Your roof plays a crucial role in determining your homeowner’s insurance premium. By investing in a new, compliant roof, you can protect your home and potentially reduce your insurance costs.

Want to know how your roof is affecting your insurance premium? Contact us today to review your coverage and explore your options for saving on future costs.