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Petroleum and Storm Related Roofing Expenses Bring Shingle Prices Up

 

Jim Stickland of Atlanta Action 2 news reported last week the headline, “Prices are going through the roof!” and he’s right. There has been a massive price increase that took place on March 1, 2013 for asphalt shingles. It is also reported that the prices will increase again on April 15, 2013. A bundle of shingles will now cost….a bundle! Shingle manufacturers are shipping more shingles to areas in the Hurricane Sandy areas which is leaving a smaller supply in the south and other regions.

The market leader Owens Corning has raised prices by double digits. This price increase has a big affect on everyone because it trickles down to the homeowners who have to pay more for their insurance premiums. So, even if you don’t need a new roof or roof repairs, you can still be affected.

In addition to asphalt shingle prices going up due to it being a petroleum based product, It has already been reported that Allstate went up 9.9% in April of last year and State Farm has reported a 7% increase in insurance premiums. Storm-related roofing expenses are a major reason for this change.

“The more this damage occurs, the more the insurance companies are laying out. They have to maintain their financial stability as well,” said Dave Colmans of the Georgia Insurance Information Service.

What does this mean for a homeowner in general? Stone-coated steel shingles should be considered for your next roofing or re-roofing project. The durability, the 50-year non-prorated warranty, 2 1/2″ Hail warranty, as well as possible insurance discounts mean Stone-coated steel roofing is superior. It is the most cost-effective way to protect your biggest investment.

 

8 thoughts on “Petroleum and Storm Related Roofing Expenses Bring Shingle Prices Up

  1. You really make it seem so easy together with your presentation however I find this matter to be really one thing which I think I might never understand. It seems too complex and extremely vast for me. I’m looking forward in your next publish, I’ll attempt to get the hang of it!

  2. Good way of describing, and good post to get data on the topic of my presentation subject. I am going to use some of your info to get the homeowners in our association to install a metal rood and be done with it.

  3. A lot of homeowners will react with these price hikes. Though we can’t stop the prices from going up because of the demand. Lets just hope the prices get stable and soon.

  4. Hello! I would like to thank you for the wonderful information you have on your site. I have enjoyed some of your blogs very much. I am hoping you provide something again.

  5. It is true that asphalt shingle prices rise quickly when the petroleum prices rise. I do not think they ever go down when the petroleum prices go down. Right now to get a quality shingle you are paying what you would pay for steel shingles. After me roof lasted only 11 years I will pay a little more and get a metal roof installed.

  6. Pingback: Trevor Umali

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