Colorado · A new roof
A new roof can change whether you can buy the policy. It is not a fixed percent off.
Companies in hail country price the roof’s age and what it is made of. A new roof can move you from a company that will not write the house, or from an actual-cash-value roof settlement, to one that will pay replacement cost. That is a different claim check. It is not a statewide discount you can quote before the application.
Colorado homeowners. Why the premium moves for other reasons: rate increases.
What the roof changes on a hail claim
Hail is a covered peril on a typical homeowners form, subject to the wind and hail deductible. That deductible is often a percent of Coverage A. A new roof does not shrink the percent. Two percent of $400,000 is still $8,000. Example only. What the new roof can change is depreciation. Actual cash value subtracts age, so an old roof’s hail payment can fall under the deductible. Replacement cost does not subtract age, if the form grants it and the dwelling limit is high enough, often about 80 percent of rebuild cost.
Impact-resistant shingles sometimes qualify for a credit the company has filed. The credit exists only if it prints on the quote. It is not automatic because the shingle box said Class 4. The storm itself, on the house and the cars: hail on the home and the auto.
Wildfire underwriting looks at slope, brush, and access. A new asphalt roof does not erase that. Colorado wildfire.
