Do shingle prices go up?

As with the price of stamps, the dollar menu at McDonalds, and chocolate, the price of roofing shingles are raised from time to time. In 2012 roof shingle prices increased anywhere from 10%-20% from the prices they were selling for in 2011 and now comes 2013 Shingle and it has happened again, multiple times. Shingle prices have been raised 3 times this year alone; on March 1^st, and again on April 15^th, and again on August 5^th.  Shingle manufacturers shipped a load of shingles to areas affected by Hurricane Sandy leaving the south with a shorter supply. Unfortunately, the price increase affected not only the cost of shingles but trickled down to homeowners whose insurance premiums went up. So, even if you don’t need to replace or repair your roof repairs, you can still be affected.

“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.

So if you were wondering why that $5,000 free roof estimate is now 10%-20% more six months later, now you know. These price increases will likely remain in effect through 2013 and probably much longer than that. Roofing costs should stabilize as the demand for shingles and other roofing materials subsides. As progress continues repairing Hurricane Sandy’s handy work, roofing prices should slowly start to fall. This could take quite a while so expect to pay more on shingles, insurance premiums and roof repairs for the time being.

Tri County Insurance Restoration still gives free roofing estimates and will help you get the most out of your roofing damage claim. Serving Roanoke, VA and surrounding counties. Visit  tci-restore.us