A Wind Mitigation Inspection Can Save You Money!
June 1st is fast approaching and that means hurricane season is almost here. If you're interested in saving money on your home insurance you may want to consider having a wind mitigation inspection. A wind mitigation inspection can be conducted by a licensed roofing contractor and only costs about $50. The savings on insurance premiums can be substantial! For example, last month one of my buyers saved over $800 on home insurance costs because of the wind mitigation results.
Your insurance company is required to provide discounts when your house has features that minimize damage from high winds. Those features include:
- Actual Roof Shape
- Reinforced Roof Decking
- Roof Shingle Attachment Method
- Shutter Protection Over Your Windows
- Hurricane Straps and/or Hurricane Clips
- Full or Partial Impact Resistant Glazing on Windows, and
- Other Wind Resilient Construction Techniques.
According to Florida Statute 627.0629, ALL insurance companies are required to offer Florida homeowners "discounts, credits, or other rate differentials..." for particular construction techniques that help to reduce wind damage caused by hurricanes, tropical storms and other windstorms related claims.
Wind Mitigation discounts are applied towards the windstorm portion of your total insurance premium. Depending on where you are located in Florida, the windstorm portion is between 15% and 70% of the total premium. The three main factors for wind mitigation discounts include:
- The number of wind resistive construction features present on your condo or home - The more wind resistive features you have, the higher the total discount will be for your property. The discounts can be as high as 30% or more of the wind portion of the insurance premium.
- The location of your condo or home - Discounted wind insurance rates are adjusted according to where your property is located within the state. If your wind insurance rates are high, then the percentage discounts will be greater for a condo or house in a high rate area versus the same condo or house in a lower rate area.
- The value of your condo or home - High value condos or homes have higher premiums. Therefore, the value of the discounts will increase with the value of the condo or home.
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