About Homeowners Insurance Policies

Two unprecedented back-to-back hurricane seasons - with eight hurricanes and four tropical storms - have caused tens of billions of dollars in insured damages.  Predictions of more catastrophic hurricanes making landfall in the U.S. have triggered significant increases in insurance premiums to cover potential future losses. 

Following is information regarding wind loss mitigation that will make your home more resistant to wind and help protect your family during a catastrophic event.  In addition to reducing your hurricane-wind premium by installing mitigation features, you may also reduce the likelihood of out of pocket expenses, such as your hurricane deductible, you may otherwise incur after a catastrophic event.

What factors are considered in establishing your premiums?

Your Location:  The closer you are to the coast, the more vulnerable you are to damage caused by hurricane winds and this makes your hurricane-wind premium higher than similar homes in other areas of your state.

Your Policy:  Your insurance policy is divided into two premiums: one for damage caused by hurricane force winds (hurricane-wind) and one for all other damage (all perils), such as fire.

Your Deductible:  Under the law, you are allowed to choose a $500, 2%, 5%, or 10% deductible depending on the actual value of your home.  The lower your deductible, the lower your hurricane-wind premium, however, if you select a higher deductible your out-of-pocket expenses in the event of a hurricane claim will be higher.

Improvements To Your Home:  The state requires insurance companies to offer discounts for protecting your home against damage caused by hurricane winds.  Securing your roof so it doesn't blow off and protecting your windows from flying debris are the two most cost effective measures you can take to safeguard your home and reduce your hurricane-wind premium.  Discounts apply only to the hurricane portion of your policy.

Your Maximum Discount:  Discounts are not calculated cumulatively.  The total discount is not the sum of the individual discounts  Instead, when one discount is applied, other discounts are reduced until you reach your maximum discount of 88%.