Whether it’s roof replacement, new siding or simple repair work, improvements to the home not only increase your property’s value and comfort, but can also decrease your insurance rates. Savvy homeowners can take advantage of this one-two punch to ensure that equity is flowing into their homes–while money is flowing back into their wallets. So if you own a home, or if you’re simply scouting for a new home, the following are some helpful pointers to remember.
A simple phone call could do wonders.
It’s important to realize that, while insurance providers try to be accurate, they’re not always able to see and know everything. If you make an upgrade to your home, whether major or minor, let them know. In one case, a homeowner’s insurance rose 30% at renewal time, prompting him to call his provider. In a turn of events, he discovered that they were unaware he’d hired professional roofers to install a new roof. The result? They decreased his rate to 10% lower than it was originally. One phone call made a difference of 40% in his premium, proving that a little communication can really go a long way. When it comes to the house, if you improve it, announce it.
A few good questions might lead to insights.
Even right now one can look at a home for possible savings opportunities. Here’s one good question to ask: Is the roof new? Nothing speaks better to an underwriter than a roof with proof. New roofs are safer for you, but safer for insurance providers to cover. And if a roof is constructed of impact-resistant shingles, you could qualify for further discounts–especially if you live in a region prone to occasional hail or high winds.
Another good question to ask: How’s the siding?
Insurance companies will check a building’s exterior material before insuring the property–and materials such as brick, stone, and concrete or cementitious siding are fire resistant and could attract greater discounts. On the other hand, an exterior such as EIFS siding (which looks like traditional stucco but is actually different underneath the surface) is not as fire resistant, or impact resistant, thereby drawing a higher insurance rate. You can always contact a construction professional to get the clearest answers.
And when you do search for the best contractor, ask them: Are they a Haag-Certified Roof Inspector? Do they hold a current certified installer accreditation from the shingle manufacturer? Choosing the right professional with experience already puts you at an enormous advantage in several ways, including insurance. In fact, that’s worth repeating.
It’s common knowledge that finding a company with experience and great references is crucial in any roofing, remodeling or restoration project. But here’s a lesser known fact: Working with your insurance provider on any home issue becomes far simpler, and more cost effective, when you hire an ethical construction contractor. They not only work with your best interests in mind, but earn the trust of your insurance company and ensure that all parties are on the same page.
A contractor with a sound insurance claim department can communicate directly and knowledgeably with your provider to reach optimum results. They speak the language insurance companies use, and know which materials will fetch greater cost savings for you. Moreover, a good contractor will work on your behalf and make your satisfaction a top priority–unlike, for instance, a public adjuster who works for a percentage of a settlement which becomes needless money out of your pocket. And by working with a company who has simultaneous expertise on both the construction end and the claims end, you’ll achieve results while avoiding any wedge that a public adjuster can drive between you and your insurance provider, hampering your relationship.
At Total Construction, we’ve served homeowners since 1987 with expertise in roofing, remodeling and repair. We work entirely on your behalf to ensure all projects completed on your home–and the savings you receive–are equally satisfying.
402.572.7457 | mytotalconstruction.com