Solar panels, skylights add risk
Extensive roof damage to a Mexico Beach, FL condominium from Hurricane Michael’s 160 mph winds, October 15, 2019. Courtesy, Jason Brugh
If this hurricane season, already predicted to be above average, churns out greater than Category 3 storms, there’s a whole lot of roofs that will suffer damage around the Gulf Coast. Property analytics firm Arturo just finished analyzing 17.3 million homes across the southeast United States, from Texas to South Carolina. It found that almost 72% of roofs are asphalt shingle, which when new, can only withstand wind speeds up to 110 mph, or Category 3 force winds. Older or degraded asphalt may only withstand winds up to 50 mph. Metal roofs made up 6% of the roofs in the region, which are able to withstand winds up to 160 mph (Category 5).
The firm’s inaugural report “Hurricane Exposure: The State of Gulf Homes” also found:
- Hip roofs comprise 44% of Florida homes, 47% of Louisiana homes, and 52% of Texas homes. The southeast region average is 42.3%. While more expensive to build, they are more durable under strong hurricane winds, making them more appealing over gable roofs.
- 257,000 homes in the southeast have solar panels, including 2.1% of Florida and 1.9% of Texas homes. While they can provide additional power to homes during outages, they can shatter when struck by hail or damaged by lightning strikes. They can also be a financial liability if not properly insured.
- 691,663 homes have skylights across the Gulf Coast states. It would cost more than $1 billion to replace all of these skylights, which are susceptible to hail and wind damage and could cause internal water damage to homes if broken.
The analysis also looked at water exposure, existence of swimming pools, and what it terms “underinsurance characteristics” of property. The company said its methodology includes highly-trained artificial intelligence models using the most up-to-date imagery available for the property.
LMA Newsletter of 7-11-22
