Can hail resistant shingles (also known as impact resistant or UL-4) lower my home insurance costs in Oklahoma? Absolutely! Having hail resistant shingles can help with your insurance costs in multiple ways. A properly installed roof system dramatically improve the energy efficiency of the house as well. But that is for another blog.
The #1 homeowner’s insurance claim in Oklahoma is hail damage. Almost 70% of all home insurance losses since 2005 can be attributable to wind or hail losses. That won’t come as a surprise to most Oklahomans. Most home owners in Oklahoma have seen their home insurance rates double and triple in that time period.
Most of us have heard the saying, “The definition of insanity is doing the same thing over again and expecting a different result.” Most homeowners will replace their roofs with the same type of shingles that were destroyed by the hail storm. I don’t blame the homeowner as this is not an area of expertise for most people.
A reputable roofing contractor should show the benefits of this type of roof system. It is often a little more expensive. According to the Oklahoma Department of Insurance the cost is about $1,800 to $2,500 more for the material than a common shingle. Two thousand bucks is a lot of money. But the long term benefit will more than pay for itself.
How? I’m glad you asked! First, you will be far less likely to need a claim filed from a “typical” hail storm. A UL-4 rated shingle is tested by dropping a 2 inch diameter steel ball from 20 feet on the same spot TWICE without damaging the shingle. So, when your neighbor is paying another insurance deductible to replace their roof you will be keeping your money in your pocket. Second, UL-4 shingles are a better insulator and can actually improve the efficiency of your heating and cooling systems.
But wait, there’s more!
Insurance companies offer significant discounts for impact resistant roofs. This is because insurance companies know these roofs are less likely to have a claim in typical storms. The average discount is 15%. The average home insurance premium in Oklahoma is nearly $2,000 per year. That means a savings of $300 per year. Your insurance agent should encourage you to make this investment too as a tool to lower your costs and reduce future claims.
It doesn’t take long to reap the benefits of having a better quality roof. There is also the re-sell value. I don’t know if an impact resistant shingle would make a home “worth” more, but I would have to think it would make it more “sellable.”
A person’s house is usually their biggest asset. Doesn’t it make sense to invest in the things that will add to its longevity? The furniture, pictures, and everything that you enjoy on the inside of the house must be protected by what is on the outside. The Insurance Institute for Business & Home Safety is a great resource for more information on impact resistant roofs and other ways to protect your home.
The information contained in this page is provided for general informational purposes only. The information is not meant as professional or expert advice, and any reliance you place on such information is therefore strictly at your own risk.