Homeowner's insurance is one of those expenses you have every month if you own a home, but there is no reason to overpay for your insurance coverage. Getting annual quotes is a good way to find out if you can save money on this normal expense, and there are certain types of home repairs you can do that should trigger you to request a new quote. Replacing your existing roof with a new one is one of these events, and here are a couple things to understand about this.

The Effects a New Roof Has on Your Home

If you think about all the parts of your home, can you identify the part that is the most important? Probably not; however, you may agree that the roof on your home is probably one of the most important. The roof you have on your home is there to protect your house, but an old, worn-out roof cannot do this very well. Installing a new roof can make your home stronger and more protected against storm damage, leaks, and water damage.

How a New Roof Affects Home Insurance Rates

When you put a new roof on your home, it's important to notify your insurance company to tell them about this task. They will want to know about this, and you could benefit by qualifying for a discount on your home insurance.

Insurance companies often offer discounts to homeowners when they complete this major home improvement, and this occurs because of the effects a new roof has on risk. Insurance companies factor in risk in every situation, and a new roof is less risky than an old roof.

A home with a new roof is not likely to get damaged from a storm, and therefore, the homeowner is less likely to file a claim on the policy. Because of this, your insurance company might lower your rate just because you put a new roof on.

How Other Improvements Also Affect Rates

Besides putting a new roof on your home, there are other types of home improvements that might also reduce your risk and lower your insurance premiums. One example of this is installing a security system in your home. Your chances of being burglarized will decrease with a security system, and this will reduce your risk level.

You can talk to a home insurance agency, like Northeast Insurance Agency, to learn more about how home improvements can qualify homeowners for discounts on their policies.