Installing Impact Resistant Shingles Could Net You an Insurance Discount. Here’s Why
Did you know installing impact-resistant shingles (also known as IR shingles) could qualify you for an insurance discount? Many Omaha homeowners have seen lower premiums after upgrading their roofs. Anchor Roofing explains how you can save money and protect your home.
How to Qualify for an Insurance Discount with Impact-Resistant Shingles:
- Install Class 4 impact-resistant shingles (UL 2218 rating)
- Check with your insurance provider for eligibility
- Submit documentation of roof installation
- Receive potential premium discounts (varies by provider)
As Omaha roofers and homeowners both know all too well, we’re no strangers to storm damage, particularly from hail and high winds. Insurance providers are well aware of the risks to homes in our area, and this often results in higher insurance rates than may be seen in other parts of the country.
However, some homeowners have begun to see an insurance discount after installing impact-resistant shingles on their homes. At Anchor Roofing, our team is always working to make the best product recommendations for our customers.
While we often recommend impact-resistant or wind-resistant shingles for their superior durability, the potential for an insurance discount can help offset the higher price tag for these products. Here’s what homeowners need to know about impact-resistant shingles and their potential for insurance benefits.
Can Impact Resistant Shingles Lower Your Insurance Premiums?
Let’s start with the important part for most readers: Is there really an insurance discount for installing impact-resistant shingles? The short answer is: no, but yes.
While exact policies will vary from carrier to carrier, there is no advertised discount for installing impact-resistant shingles on your home. However, many homeowners have noticed their premiums decline significantly after installing shingles that rate highly for impact resistance. And while it’s true that this practice varies from company to company (and policy to policy), we’ve worked with many homeowners who learned this was an option for them.
How Much Do Impact-Resistant Shingles Save on Insurance?
Because there isn’t typically an established, official discount for installing impact-resistant shingles, the exact amount of savings can vary as well. However, depending on the value of your home and your policy, it could equate to hundreds of dollars per year. Some homeowners in Omaha have reported savings of hundreds of dollars, while others online have reported savings of up to 25% on monthly premiums.
How do you know if this discount will be available to you? The best way is to contact your insurance provider and ask how impact-resistant shingles may improve your coverage. Your insurance agent should be able to provide more specific details, including a better idea of how likely you are to receive a discount.
Which Roofs Types Qualify for an Insurance Discount?
Generally speaking, Class 4 impact-resistant shingles (a designation from Underwriters Laboratory) will be enough to qualify for an insurance discount. These will be shingles that have been specially engineered to withstand impacts from hail stones, debris, and other threats to roofing. In some cases, Class 3 impact-resistant shingles may result in savings as well.
In addition to roofing shingles, other high-durability roofing materials will provide better protection for your home and may result in reduced insurance premiums. This includes materials like:
- Impact resistant shingles
- Concrete or clay tiles
- Residential metal roofing
- Slate roofing
However, it is important to stress that not all providers will offer any discount at all.
Why Do Insurance Companies Offer a Discount for Impact Resistant Roofs?
An “insurance discount” probably sounds like a surprising or even suspicious thing to many homeowners, as insurance companies are not particularly known for giving discounts. That said, a discount for impact-resistant shingles does make sense if you consider the way insurance works.
Insurance premiums are determined by multiple factors. The value of the property being insured, i.e. your home, will be the biggest factor. However, another input into the final calculation is risk—that is, how likely it is that your home will become damaged.
Risk is a complex calculation that takes into account a host of variables, but the material your roof is made from is one of the most important. With more damage-resistant materials, the risk that your home will be affected by hail or strong storms is reduced. This means that impact-resistant materials—particularly in a hail-prone area like ours—reduces your risk, which is likely to be reflected in your monthly premiums.
How to Take Advantage of the Discount
It bears repeating one more time: there is no guarantee that installing impact-resistant shingles will result in an insurance discount. Therefore, the first step in the process should be to discuss the matter with your insurance provider.
After you’ve confirmed more information with your provider, you’ll want to reach out to a professional roofer to complete a thorough roof inspection and determine the right path forward. Some considerations that a roofer will help you evaluate include:
- Which materials will be best-suited for your roof
- The current state of your roofing system
- The age of your roofing system
- The overall cost-effectiveness of a roof replacement with impact-resistant shingles
Generally speaking, replacing a roof that is relatively new purely for an insurance discount will not be a cost-effective plan. However, if you’ll be due for a roof replacement relatively soon, the upgrade to impact-resistant shingles may well be worth it when you consider the potential savings from insurance.
Anchor Roofing: Omaha’s Top Roofing Experts
At Anchor Roofing, our number-one goal is to take care of homeowners throughout Omaha. That includes delivering high-quality solutions that aren’t just effective in protecting your home, but cost-effective as well.
We’ve helped many homeowners make the switch to impact-resistant shingles and enjoy insurance savings as a result. If you’re in need of a replacement and weighing the benefits of upgrading your roof, we’re here to help! Contact us today to schedule your inspection.