10 hidden home insurance credits
Impact-resistant roofing: Grab a hard hat
Your roof is a major concern to your insurance company. Not only does it take a beating from wind, rain, hail and hurricane-blown debris, but once it's compromised, the damage costs on a home insurance claim can rise dramatically.
So it comes as no surprise that, as more and more impact-resistant roofing materials have come to the market, insurers have been increasingly willing to offer rate discounts to homeowners as an incentive to invest in a "hard hat" for their abodes.
Your state's department of insurance can direct you to information about impact-resistant UL 2218 standard roofing material, which is graded as Class 1 through 4, with Class 4 being the sturdiest. Insurers may require that your roofing material be tested by an approved laboratory before issuing a credit. The upgrade may also net you a tax deduction.
"Insurers definitely are giving discounts for Class 4 because, if your roof blows off in a rainstorm or nor'easter, the water damage is going to be substantial, resulting in a much larger claim," says Flannagan. "They definitely want you to protect yourself against that."
Impact-resistant roofing credit: 5 percent to 10 percent.