Information on Hurricane Insurance in Florida – part one
The state of Florida faces the maximum hurricanes in the US. Hurricanes in Florida cause extensive damage and are a very expensive proposition for home and property owners as well as state governments. Insurance companies are not very keen to cover property at rates that can be afforded by people. This has led to state intervention, the Senate of Florida set up a task force in 2008 to check the trends of property insurance in Florida. State intervention with respect to insurance for natural disasters has been around for a long time. Prominent examples include government monopoly property insurance as practiced in some parts of Switzerland.
nsurers in Florida are forced to consider the following factors with respect to agreeing to insure property in Florida. The first factor that renders hurricanes uninsurable is that although severe hurricanes may not be very frequent when they do occur, the damage is substantial. The damage is very often concentrated in one area so all insured parties in that area can claim damages. This is why insurance companies try their best to spread their liabilities so that at any given time they do not come under excessive financial stress.
There is no way insurance companies can objectively calculate the cost incurred due to the damage in a hurricane. Uninsurable risks are usually insured at comparatively higher premiums by the insurance companies. In the case of natural disasters such as hurricanes, concepts such as risk pooling and risk spreading do not seem to work. Risk pooling works when unrelated risks are pooled. In the case of a hurricane the risks are all related and hence cannot be considered independently distributed. Risk spreading works when the risks are spread over a large number of insured people whose risk liabilities are small; this is not the case with hurricane insurance, the damage is usually severe. If the state intervenes it can take over the risk of a large number of individuals, thereby spreading the risks.
As early as 1970, the State of Florida had started taking steps to improve how the government can step in to fill the void created by unwilling private insurance companies. The Florida Windstorm Underwriting Association (FWUA) was formed in 1970 and today is covers 29 coastal counties in Florida. However, although organizations such as FUWA exist to charge affordable insurance rates that the individual is not able to obtain from private insurance companies, the law allows FUWA to charge premiums that will allow it to recoup costs.
Just want to say I'm very pleased with the shutters I installed just a week before hurricane Irma and they performed very well. All the parts were cut just right and all the hardware that was included was enough for the job.
James F. - September - 2017 - Nassau, Bahamas
Hi Michael! I must say I'm very happy with my Bahama Shutters they arrived in the Bahamas well wrapped and in excellent condition. Installation was easy and they fit my windows perfectly. These are high quality beautifully made shutters and really put the finishing touch on my home, Thank you for your excellent service.
Tammy R. - August - 2017 - St. Thomas, US. Virgin Islands Thank you for putting our order together to allow us an easy install of our shutter system. Your attention to detail made the whole process painless and enjoyable.
John C. - July 2017 - Hampstead, North Carolina I want to thank you for the excellent service and high quality of the shutters that I received last year.
They more than met my expectations. Especially, their fit, ease of installation, and beauty were exceptional.
I will be ordering more this month.
Steve R. - April 2017 - Wellington, Florida Thanks for delivering the Storm Panels on Friday. The shutters work great and were very easy to install!
Mark M. - March 2017 - Stuart, Floirida
I am very happy with quality, design, function and especially the staff. Made the project go perfectly. My son and I hung all three Saturday morning in about two hours. He’s a glazier with Last Chance Glass and he said he thought it was excellent workmanship.
Thank you so much.
Alan R. - February 2017 - Montague, Michigan Michael, this is Alan from Michigan we ordered 3 Rolling Shutters from you late last year. We just installed them and the customer is very happy. Thank you, the quality of your shutters and ease of install made it enjoyable to use your product.
Bob O. - January 2017 - North Fort Myers, Florida I received the Accordion Shutter delivery this evening.... No damage... How could there be any damage!!!!!? You packed the units so professionally!!!!!!! It is a shame other companies do not pack their stuff as well. Well done to the staff..... Wishing you all the best.
John C. - December 2016 - Port St. Lucie, Florida The Accordion Shutters went in so easy. OUrTown inspector passed them. No problems. The installation was a breeze. We love our new shutters and you can use us as a reference.Best regards.. John
Dan F. - November 2016 - Scituate, Massachusetts The Accordion Shutter is up and great. Very easy to install. I love it! Thank you.
Ray W. - October 2016 - La Porte, California I just wanted to thank you. We installed the five shutters this weekend and LOVE them! The quality is better than I had expected and the fit and Finish was perfect. You will be hearing from more cabin owners here in the LaPorte CA area once they see these. I have attached a photo of one of the windows, the two tone was a nice touch. Again thank you!
Victor B. - September 2016 - Ft. Lauderdale, Florida The Accordion Shutters turned out great, passed inspection with compliments from the building inspector and the homeowner. Thank you.
Gary S. - August 2016 - Port St. Joe, Florida The Bahama Shutters arrived safely Tuesday and they’re all ready installed. Thank you and I’m looking forward to working with you in the future for the new home I plan to build on some new property I just purchased. Thanks again.
Joel P. - July 2016 - Cedar Key, Florida
The Bahama Shutters look great. I was concerned that they would be diffucult to put up but it was easy. Your product is high quality and beautiful! People in my neighborhood are asking me where to get them. I will gladly be recommending your company to them and placing an order for the rest of my house soon. Thanks for a wonderful product!!
Michael M. - June 2016 - Merritt Island, Florida Good Afternoon. I just wanted to show you photos of my back service door shutter on my garage that I just finished installing. Because my job requires me traveling, I will not be able to do the (3) front windows for a little while later.Also without bothering him again, I wanted to send a BIG THANK YOU to Bill for his help & knowledge in guiding & educating me through this installation. I did as he told me to do and the results came out as he said that they would. Yessssssssssss Thank you again
Thaddeus S. - April 2016 - Nassau, Bahamas You all did an excellent job on my accordion shutters. They went together like a simple puzzle. I will be recommending you to my family members!
Doreen J – March 2016 – Grand Turk, Turks and Caicos Hello I love my hurricane shutters and I also sent a picture. I will give other people your address as well.Thanks for everything. Jessica H. – February 2016 – Jacksonville Beach, Florida We looooooooooooooooooooooooove our shutters! I am so grateful you helped me with the measurements! They look amazing! Thanks again!
Fred M. – January 2016 – Corpus Christi, Texas Good morning. We got the rolling shutters and everything went well with the installation. I'd like to add them to my web page and market these. I was wondering if you could send me something, like a link and whatever i could use to link to my webpage? Anything would help.
Tom W. - December - 2015 - Coos Bay, Oregon I just wanted to let you know that your Rolling Shutters are fantastic. So far they have held up well against a very punishing Oregon coast weather that our beach gets hammered with in the winter. There is so much sand shifting that we actually have to own a Bobcat to move sand all winter long. If you want atestimonialjust ask a few of us that have your shutters.
Louis E. - October - 2015 - Alliquippa, Pennsylvania "I have installed the shutters on my OLD house in Pennsylvania, And I was very impressed with the quality of the Bahama Shutters,,Heavy Aluminum Powder coated finish...I won't have to get up there and every Paint these again.. Also I can leave the window open during a rain and not have to worry about the rain getting the house.. And the best thing the house stays nice and cool with out The Air Conditioner running.. I Love them.."
Brian M. - September - 2015 - Gulf Shores, Alabama Michael, I wanted to thank you for all the time and information you gave me on the phone today regarding hurricane shutters for this project on the Gulf coast. Your expertise was evident and customer service excellent! As a licensed contractor myself, it is a pleasure doing business with a company such as yours. Keep up the great job!
Bill C. - August - 2015 Cabo San Lucas, Mexico Thank you for very good service. It is much appreciated!
David C. - July - 2015 - Maui, Hawaii The Bahama Shutters have been received; just in time for our first storm.... Thanks to you, I am READY!!!
Mahalo & Aloha
Gary F. - April - 2015 - San Clemente, California Just a note to thank all at Hurricane Shutters for a wonderful job. From start to finish your team was there to help guide me and delivered what you promised.
Soams S. - February - 2015 - Orange Park, Florida Wow!! My Bahama Shutters are very nice looking. I really like the shutter contrast color with my house!Thanks to all your crew for all the hard work on my behalf. Your assistance and product are outstanding. I love the shutters.Thanks again for your great product support. I will send pictures soon. Please feel free to use me as a reference.
Patrick R. - January - 2015 - Long Island, New York I Just had my Rolling Shutters installed (on 5 sliders) yesterday on our oceanfront beach house in New York where they will provide protection from Noreasters' and hurricanes. In addidtion, they will provide a solid measure of security! Thank you all at Empire for a job well done!