Roof claims concentration

Roofs absorbed more than a quarter of all U.S. residential claim value in 2024, putting one part of the house at the center of insurance costs. (verisk.com) Verisk said roof repair and replacement costs reached nearly $31 billion in 2024, up almost 30% from 2022. The company repeated that point on its earnings call released April 21, 2026, while describing demand from claims and restoration customers. (verisk.com) (aol.com) Wind and hail drove more than half of residential claims, according to Verisk’s April 8, 2025 roofing report. The same report said non-catastrophic wind and hail roof claims rose to 25% in 2024 from 17% in 2022, showing losses are not limited to named disasters. (verisk.com) That concentration has practical effects for insurers and contractors because roofs are among the largest and most expensive home components to repair. Verisk Chief Executive Lee Shavel said most of the company’s 5,000-plus customers perform insurance-driven repairs and restoration. (aol.com) The claims picture also lines up with roof condition data. Verisk said 38% of U.S. residential properties have roofs in moderate to poor condition, and those homes show loss costs about 60% higher than homes with good-condition roofs. (verisk.com) Materials and design affect exposure too. Verisk said about 80% of U.S. homes have asphalt shingles, while hip roofs showed lower average loss costs than gable roofs because they tend to perform better in high winds. (verisk.com) Regional differences are widening the gap. Verisk said eastern states show more moderate-to-poor roof conditions because of bigger temperature swings and more varied weather, while hail-prone central states face heavier storm-driven roof losses. (verisk.com) For claims teams, the takeaway is simple: one building component is now driving an outsized share of residential loss dollars. Verisk’s earnings call framed that as a reason restoration, estimating, and pricing work keeps clustering around the roof line. (aol.com)