I Put a New Roof on My House. Here's How Much My Home Insurance Costs Dropped

Homeowners insurance is expensive in the state where I live. Fortunately, though, I recently put a new roof on my house. And when I let my insurance company know that I had done that, I saw my monthly premiums drop.

Wondering just how much my home insurance costs fell after the roof install was completed? Here's what you need to know about how much less I'm paying, thanks to the premium savings my new roof provides.

The amount I saved on insurance was surprising

After alerting my home insurance company that I had put a new roof on my home, I saw my insurance premiums decrease by a shocking 17%.

While I wasn't necessarily expecting such a big price break, my experience is not unusual. In fact, when homeowners install a new roof, they can save anywhere from 5% to 35% on home insurance premiums depending on factors, such as:

• Materials used
• Location
• Insurance company policy

In my case, the new roof replaced one that was close to 20 years old and that wasn't in great condition. And I used good quality roofing material. All of this helped to maximize the premium reduction my insurer offered -- despite that I'm in a state with very few insurers that offer coverage and rates here aren't very competitive because of it.

Here's why a new roof can result in a reduced insurance premium

My homeowners insurer did not lower the rates I was paying for coverage just because it was so impressed with how cool my new roof looks (although, the onyx black shingles really are pretty snazzy).

The insurance company reduced the costs because it now views my house as less risky to insure. The new shingles are in better condition than the old ones and are more likely to be able to withstand storms or other problems. They are more durable and less likely to be damaged in a storm and allow water to penetrate and damage the rest of my house. So the insurer is less likely to have to pay out a claim.

Since insurers price policies based on the likelihood they will have to pay for covered losses. Home improvement projects that make a house safer and sturdier tend to result in lower bills. This applies not just to replacing a roof, but to many other home upgrades as well, including:

• Installing a security system
• Replacing aging pipes
• Replacing old aluminum or knob and tube wiring with copper wiring
• Adding a new water heater
• Installing new HVAC equipment
• Installing leak detection systems
• Adding freezing pipe sensors
• Installing smart locks
• Putting up storm shutters
• Installing impact-resistant windows
• Choosing reinforced garage doors
• Putting in a sump pump
• Adding water shut-off valves
• Getting LEED certification for a home
• Installing solar panels

These are just some of many possible changes to a home that could make a positive impact on home insurance premiums.

The key is to always let an insurer know about projects that are being done. This can help homeowners make certain they are getting the lowest possible premium prices while maintaining the protection for their assets that homeowners insurance is supposed to provide.

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