Florida’s warm temperatures and sunny skies, along with access to some of the most diverse ecosystems in the country, are perhaps the biggest reason people move to the state. However, longtime residents of the state are well-acquainted with the potential dangers posed by Florida’s climate: tropical storms and hurricanes. These storms bring incredibly strong winds with many surpassing 110 miles per hour and can cause billions of dollars in damages to homes and businesses across the state.
This reality makes wind insurance a vital consideration for any Florida homeowner. If you’re considering a move to the Sunshine State or are purchasing your first home here you are likely asking yourself what wind insurance is, what it covers, whether it’s required, or you can read here: What does wind insurance cover In Florida?
In this guide, you will learn all about wind insurance as well as important tips for choosing and saving on your policy.
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What is Wind Insurance, Is It Required In Florida, And What Does It Cover?
Wind insurance is a specific type of coverage that protects owners from damage caused by high winds. Insurers in Florida separate this type of damage from other categories because of the region’s risk from extreme weather events such as hurricanes.
Wind insurance isn’t legally required by the state of Florida. However, coverage for damage caused by high winds is typically included in a standard homeowner’s policy. While homeowner’s insurance isn’t required by the state, most, if not all, mortgage lenders will require owners to carry a policy.
Your typical wind insurance in Florida covers the owner’s home, attached structures (such as a garage), and any personal possessions within the home. Structural damage includes things like roof damage, broken windows, or damage from debris.
Important Considerations When Choosing a Policy
Given the frequency of potent windstorms in Florida, owners must review this section of their insurance quotes provided by any provider. When choosing a policy, make sure you:
- Insure your home’s replacement value, not the market value.
- Review the deductibles. Most policies have a separate deductible for wind damage.
- Understand all exclusions to what’s covered.
- Keep your policy and coverages up to date if you make any upgrades or renovations to your home.
How to Save on Your Home’s Wind Insurance
It’s a fact of life that living in a high-risk area such as Florida’s coast will result in higher insurance premiums than living elsewhere in the state. However, the state requires insurance companies to offer discounts for people who undertake efforts to mitigate wind damage. Mitigation efforts include:
- Installing roof clips to prevent it from blowing off
- Installing wind-resistant windows and doors
- Covering windows with hurricane shutters
- Using a hurricane-rated garage door
The more you protect your home from wind damage, the higher the discounts on your insurance premiums will be. In fact, investing in wind damage mitigation can save you thousands of dollars every year.
Understanding homeowner’s insurance in Florida isn’t the easiest task for transplants and first-time homeowners. However, by understanding what wind insurance is, how to choose a policy, and what mitigation credits are available, you can find the best policy for your home while saving potentially thousands of dollars.
