How Old Is Your Roof? It’s Important More Now Than Ever!

 In Best Practices, Home, Policies

Do you know how old your roof is?

Now it is more important than EVER to inform us if you replaced the roof on your home. Even if you have a new roof now, paid for by your insurance company after a storm, it is vital that you let us know about this sooner than later. As insurance professionals that work closely with the carriers, many times we are not given this information by the claims departments even though they just paid to have it put on the homes. So with that said, if you’ve replaced your roof on your own in the past 15 years, make sure we know that!

Why is this important?

The rules of the game have changed so to speak. As we all saw, 2022 was a record setting year for extreme weather-related claims across the country. Our own quiet little corner of the Midwest was hit hard by wind and hail storms throughout the year. When I say record setting, I mean that insurance companies that have been around for over 100 years have NEVER paid a higher amount for claims to homes and businesses, condos and apartment buildings than EVER before. The average cost for repairs for a weather-related event is 2.4 times what it cost just 5 years ago! Those are just staggering figures when you think about it.

Insurance carriers are quickly changing how they pay claims for roof/siding damages, mainly for homes with roofs over 15 years old. They’re also increasing deductibles for wind and hail damages, which is really all about gearing up for the next round and continued extreme weather patterns they are told will not get better anytime soon. Which is why it’s very important that they know how old your roof is BEFORE something happens to it.

At American Advantage IFS, we want to help make sure you have the kind of coverage for your roof and siding that you think you have. Which is why it is crucial that we have these conversations before something happens rather than after. Call us please at 262-696-5800 to set up a policy review. It could be the best 45 minutes you ever spend with an insurance professional.

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