Roof repair and replacement costs soared to nearly $31 billion in 2024—a jump of almost 30% since 2022—according to Verisk’s latest U.S. Roofing Realities Trend Report. And it’s not just about cost: roof issues are now a major factor in home insurance claims.
In fact, roof-related damage made up more than a quarter of all residential insurance claims last year. The top culprits? Wind and hail, which were responsible for over half of those claims.
The condition of your roof matters more than ever. Homes with roofs rated in “moderate” to “poor” condition are hit with 60% higher repair costs after a loss. Alarmingly, about 38% of U.S. homes fall into that category.
Adding to the challenge, rebuilding costs for homes and businesses have surged more than 60% over the past 10 years. At the same time, homeowners are waiting longer to get their claims resolved. The average repair process now takes more than a month—32.4 days from filing to finished repairs, and 44 days from the first notice of damage to final payment, according to J.D. Power. Those are the longest delays ever recorded.
Insurance companies are also facing their own challenges. Many still rely on outdated roof inspection methods, like checking from ground level, which can miss hidden damage. That can lead to pricing that doesn’t match your actual risk—and fewer options when it comes to coverage.
Most U.S. homes (around 80%) have asphalt shingle roofs. Nearly 1 in 3 of those have less than four years of useful life left. States like West Virginia, Connecticut, New Jersey, and Massachusetts have the highest percentage of aging roofs.
Why does that matter? Roofs with less than four years of life left can suffer 50% more damage during severe weather compared to newer roofs with eight or more good years ahead.
Roof lifespan also varies by location. In hail-heavy states, the average roof lasts just 15 years. In contrast, homes in drier, less storm-prone states like Nevada, Arizona, and Utah see roof life stretch closer to 22 years. In some areas, roofs begin to fail in just 10 years.
The Bottom Line for Homeowners:
Now is a great time to inspect your roof—especially if it’s older or hasn’t been checked recently. A roof in good condition not only protects your home but can save you from major repair bills, insurance headaches, and long claim delays in the future.