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What is roof inspection for insurance? How does it work? Is it mandatory? Is it worth it?
Roof inspection for insurance can be defined as the mandatory assessment done to old roofs to estimate the remaining value of a roof to enable insurance companies to calculate the expected cost of your insurance policy.
In its 2017 American Housing Survey conducted, the U.S. Census Bureau confirmed that the estimated replacement cost for simple roofing structures was about $6800, while that of bigger and more complex structures ranged from $10,000 to $25,000. The cost, however, is variable, depending on location, roofing materials, and the roofer you hire.
So you can agree with me that the cost of putting a roof on your loved ones’ heads and precious belongings is quite high, and so getting your roof insured is a necessary move.
Before we get into more in-depth details of what roof inspection for insurance is, we must understand what roof inspection is. For those who may not know, roof inspection involves the evaluation of a roof’s current condition to find out if there are damaged or missing clogged rain gutters or shingles. Roof inspections don’t require the inspector to climb the roof, and so they can’t determine the lifespan of a roof, rather the repairs needed and its possible value.
For insurance companies to insure older homes, they will require a roof inspection certification. It enables them to know if the roof is worth an insurance cover.
The answer is a big NO. Roof certification and roof inspection are two different things. However, they are aimed at achieving the same purpose—determining the condition and value of a roof. A roof certification is a statement professionally crafted by talented and licensed roof inspectors after evaluating an old roof.
A roof certification is comprehensive and involving, and does tell the value and lifespan. Actually, roof certification is what most insurance companies ask for when they request for a roof inspection.
The certification should comply with the Federal Housing Administration Regulations if it has to be recognized as valid. When certifying a roof’s safety, inspectors have to consider factors such as previous roof repairs, age, no of layers, roofing material, and roof pitch. Some roof certifications come with a warranty to act as a protection against damages such as leaks.
Roofs aren’t a lifetime investment. Even high-strength roofs that have solid construction and premium designs will succumb to the abuse exposed to them every day.
So many factors determine how long a roof may last, among which are the quality and type of the roofing material, the contractor’s skill level, and the amount of adverse weather the roof has to endure every day. Roofs lose their value over time, and so, when you decide to insure an old roof, the insurance company will usually request you provide an inspection certification.
Insurance companies require a roof inspection to know the estimated value and the remaining lifespan of your roof to help them craft a unique insurance policy for you. If you’ve already insured your roof, your insurer may want you to provide an inspection certificate to enable them to create a perfectly suited policy renewal.
Like other businesses, insurance companies want to keep their financial risk low and their profits high. And as you know, the older your roof gets, the more risk it poses to the insurer’s finances. That’s true since as the roof gets old, the risk of it developing issues is higher, which exposes the insurer’s finances to great risk. And so, when you consult them to apply for an insurance policy or renew an existing one, they will need you to inspect the roof and provide a certification proving the roof is in good condition.
The amount you pay as premiums for your roof insurance policy will be determined not only by the condition and age of the roof but also the type and quality of the material and construction. Poorly installed roofs that feature low-quality materials will usually cost more to insure. Also, if your roof needs repairs or has been repaired several times in the past, your insurance premiums will be higher, as well.
Roof inspection for insurance involves checking the strength of a roof by pinpointing any existing or potential issues that could threaten the efficiency of the roofing system. Certified roofers will evaluate your roofing system to check for damages such as missing buckled shingles, moss or algae accumulations, sagging tiles, leaks, and mold growth.
Roofers will also climb to the top of the roof to do a closer and more detailed examination to check for damages to the gutters, flashing materials, and valley joints. They will keenly examine the roof system, making sure they identify any issues that could require repairs and sections that could need replacement.
Once they’re done inspecting your roof, certified roofers will provide an accurate and detailed written report, which you can present to your insurance company. Most roof inspectors only give positive reports, meaning that your roof must pass their inspection process for them to award you with any statement.
In case your roof fails the inspection test, the inspector will tell you why, and allow you some time to make amends before they can give it another check. The good thing about roofing inspections is that they are always in favor of the homeowner since roofers offer repair and replacement services to make your roof fit for a favorable report.
Did you just receive an email or message from your insurance company requiring you to have your roof inspected before you can buy or renew an insurance policy?
Getting a roof inspection for insurance is a cost-effective yet genuine way to give your insurance company a reason to complete the policy processing or renewal, without increasing the premiums.
You’re advised to always work with qualified and certified roof inspection specialists as they are likely to give official reports that would woo your insurance company to extend the policy without increasing the premiums.