Why is there an increase in Florida roofing prices?
J&M Roofing • June 7, 2022

June 7, 2022

An aerial view of a residential suburban neighborhood with houses, driveways, lush green trees, and parked cars.

Why are roofing prices increasing?

Is it time for you to get a new roof but you can’t seem to find a roofing company with reasonable pricing? Don’t wait until it’s too late. Roofing companies are not responsible for the recent increase in roofing prices. This outcome is the result of the Florida insurance market, inflation, and the increase in supply prices. This blog post is here to debunk the misleading reasons for the spike in roofing prices.

Florida Insurance Market

It’s no shock that when Florida’s homeowners’ insurance is on the rise, that home improvement pricing will follow. Over the past years, Florida has been expected to see an increase in homeowners’ insurance, with hurricanes and insurance fraud as the leading causes. The rising costs have led many property insurers to withdraw leaving the home repair market to raise pricing in order to protect their liability.

Hurricane Season

A huge factor that continues to contribute to the increase in the Florida insurance market is hurricane season. With recent hurricanes Irma and Michael, there was a multitude of insurance claims including fraudulent roofing claims. As the cost of claims goes up, rates go up and homeowners pay for them. Costs of water damage litigation and reinsurance are also shifting the property insurance market.

Fraudulent Claims

As roofing scams continue to flood insurance companies, homeowners’ insurance is inflating for Florida residents. Hurricanes aren’t to take all the blame, but fraud has played a leading role in inflation. A common variant of this is fraudulent contractors. When companies and contractors are out there making obstructive claims to homeowners, the public pays. Most of this dishonest advertisement comes from contractors (sometimes unlicensed roofers) and not roofing companies themselves. However, this affects how roofing companies must handle pricing.

Supply Shortage

Just as inflation and the insurance market have been affected by the issues mentioned above, so have the costs of roofing materials. Another primary cause of the increase in roofing materials is due to extreme inventory shortage initially caused by the COVID-19 shutdowns. This combined with Florida storm activity and insurance increase caused an inevitable rise in supply costs and demand.

< Older Post
Strong winds bend palm trees on a beach as ocean waves crash against the shore during a storm.

Hurricane Season and Roof Preparation

By J&#38;M Roofing • June 7, 2022
With hurricane season approaching, officially beginning June 1st and ending November 30th, it’s time to make sure your roof is ready. The most common damage from hurricanes is roofing damage, so knowing how to prepare your roof or if it needs repair is important for Florida hurricane season.  It’s important to start preparation before it’s […] The post Hurricane Season and Roof Preparation appeared first on J&M Roofing Services .

Roof Replacement Is It Time?

By J&#38;M Roofing • December 27, 2021
It’s that time of year again when homeowners start to think about replacing their roofs. But how do you know if it is time for a new roof? There are many factors that come into play in making this decision, but there are also some signs that let you know whether or not your roof […] The post Roof Replacement Is It Time? appeared first on J&M Roofing Services .
Two-story brick house with a stone chimney, two-car garage, and landscaped front yard under a blue sky.

Why are roofing warranties important?

By J&#38;M Roofing • December 20, 2021
Whenever you proceed with roof installation or replacement, you have to spend a lot of money, that is why roofing warranties are important. If you want to ensure a safe financial future, then you must protect your roof with a great warranty. Remember that even if you have homeowners insurance you cannot expect it to […] The post Why are roofing warranties important? appeared first on J&M Roofing Services .
Show More →