Roof repair and replacement cost value totaled nearly $31 billion last year — up nearly 30% since 2022, according to a new report from Verisk.
The strategic data analytics and technology provider reported that roof-related line items made up more than a quarter of all residential claim value in 2024. Wind and hail were the predominant drivers of these loss costs and accounted for more than half of all residential claims.
In recent years, significant hail activity, inflation, exposure growth through new construction and human migratory patterns have all contributed to the increase in total