Although wind insurance isn’t mandated by the state of Florida, mortgage lenders providing funding for homes in the state do require windstorm coverage in order to secure a loan. Given the propensity for strong winds, hurricanes, and other severe storms, it makes sense that insurance providers want to protect their investments. Wind insurance rates vary widely depending on the home’s location – for instance, property owners with waterfront lots generally have the fewest options and pay the highest rates.
All Florida residents may qualify for wind mitigation credits that can lower the expense of windstorm coverage, provided the property is adequately protected.
By law, property insurance providers that offer homeowners, renters, or condo insurance must also provide windstorm coverage for the damage caused by hurricanes and other severe weather. This insurance covers wind damage to the dwelling, as well as damage caused by the rain, hail, or dust that may enter the property through an opening caused by the storm. Homeowners who live in high-risk areas more prone to hurricanes or tropical storms may find it challenging to obtain these policies for a reasonable cost.
Windstorm FAQs
- A windstorm refers to the gusts of wind, rain, and hail that are often present during a hurricane. Windstorm insurance is often referred to as hurricane insurance, even though a hurricane can also cause flooding and other types of property damage that windstorm insurance may not cover. Other sources of strong wind, such as tornadoes and tropical storms, are covered under the combination of a wind-only insurance policy or a homeowner’s insurance policy if it includes wind coverage.
- Wind-pool areas are the highest-risk areas in Florida, and homeowners may not be offered windstorm insurance included with their homeowners’ policies – necessitating separate coverage. Wind-pool areas include beachfront and coastal real estate situated within 1,500 feet of a major water body. Coverage in wind-pool areas may not be available from major insurance providers. If you are looking for insurance coverage options in these regions, contact our offices for assistance.
- Florida homeowners and windstorm insurance policies may require separate deductibles for hurricanes and other windstorms. A homeowners insurance hurricane deductible generally only applies to damage from named storms identified as hurricanes by the National Hurricane Center. These deductibles are either structured as a fixed dollar amount or a percentage of the dwelling coverage.
- Hurricane deductibles are usually set higher than standard homeowners insurance but only need to be paid once per year. Therefore, if Florida is struck by multiple hurricanes in a single year – and the home sustains damage more than once – homeowners are only required to meet the deductible upon the first claim. However, if the windstorm insurance company charges a wind deductible for unnamed storms, the homeowner would be responsible for a more significant deductible for a greater number of potential claims.
Florida Wind Mitigation Credits
The My Safe Florida Home Program was created to assist residents in reducing their risk of property damage from wind and hurricanes. Insurance companies are compelled by law to extend discounted windstorm insurance rates to homeowners who own homes with features designed to be wind-resistant.
Discounts from this program can lower windstorm insurance premiums significantly. In order to qualify for wind mitigation credits, a homeowner will be required to have a home inspection performed by a certified inspector, who will look for:
- Hurricane shutters
- Impact-rated glass on doors and windows
- Reinforced roof-to-wall connections
- Roof-deck attachment
- Roof covering, shape, and bracing
- Storm-resistant garage doors
- Secondary water resistance
Do You Need Windstorm Coverage?
If you need homeowners or windstorm insurance and want to consult with a professional, call Anderson and Associates Insurance Group. We are here t help you acquire the insurance you need.
