Florida homeowners insurance premiums largely depend on two critical roof factors: age and materials, according to local insurance experts who say the roof serves as a home's primary defense against weather damage. Insurance companies increasingly raise premiums on asphalt shingle roofs older than 15 years, while metal roofs receive favorable treatment for their 30-year-plus lifespan, according to industry professionals. Homeowners with shingle roofs over 15 years face shrinking insurance options, explained Lee Wiglesworth of Wiglesworth-Rindom Insurance in Stuart.
Asphalt shingles remain Florida's most popular and economical roofing choice, but their vulnerability to heat and wind makes them less attractive to insurers as they age. Companies with the most competitive rates only want roofs under 15 years old, so homeowners with 16-year-old roofs can still have options but are starting to eliminate options for themselves, Wiglesworth said.
For homeowners reluctant to replace aging roofs, scheduled endorsements offer partial protection. Under this arrangement, insurers cover only 25 percent of an older roof's value while homeowners self-insure the remaining 75 percent.
Metal roofs cost nearly twice as much as asphalt shingles but offer superior long-term protection and insurance advantages, according to Wiglesworth. Florida's insurance market has seen new companies enter the state, with more insurers willing to cover older homes. His advice for homeowners considering roof replacement: call an agent who can shop multiple carriers and ask what it would save them if they got a new roof, even before they get a new roof.