Tips about how to obtain wind insurance incentives have been issued by the Florida Department of Financial Services on the department’s website. According to DFS, Floridians may be entitled to discounts on insurance premiums if they take measures to strengthen their home against potential hurricane damage.
Why invest in hurricane-resistant building techniques?
Wind insurance incentives are available to Florida homeowners for building features that mitigate or reduce damage during high wind events like hurricanes. Methods that reduce wind damage include improved roof shingles, strong roof decks, hurricane clips/straps, impact resistant glazing or shutter protection for windows, roof shape and other construction techniques. These features can be added to an existing structure or incorporated by building code in a new structure.
Florida Statute 626.0629 requires insurance companies to offer Florida homeowners “discounts, credits, or other rate differentials…” for construction techniques that reduce damage and loss in windstorms.
Many existing houses may already have construction features that qualify for insurance discounts. Houses built after 1994 in Miami-Dade or Broward counties and after 2002 building code changes in the rest of the state have wind-resistive construction features and will likely qualify for credits.
Floridians can reap the benefits of investing in building techniques that strengthen their homes against hurricane damage in four ways:
1) Homes built to withstand catastrophic storms are safe havens, allowing homeowners to avoid costly evacuations from hurricane-prone areas.
2) Discounts on insurance premiums are available for certain mitigation measures, reducing insurance cost to homeowners.
3) Homes built with to these standards are at a lower risk of sustaining extensive damage, making more attractive risks for the private market to insure.
4) Overall loss of homes and business can be reduced in the event of a catastrophic storm, helping our state avoid a negative economic impact.
The site also lists useful information on handling claims and obtaining help. Then contact your insurance agent to inquire about discounts on your property insurance. And take the necessary steps to improve your property for safety and savings. For information go to www.fldfs.com.