Many Floridians who live in a home built after 2002, or after 1994 in Miami-Dade or Broward counties, do not realize that their home may qualify for one or more insurance discounts with Hurricane Protection upgrades like Hurricane Shutters.
DISCLAIMER: The discounts presented at the end of this survey are given as a percentage of the wind portion of your total insurance premium. The wind portion of your premium is between 15 and 70 percent of your total premium, depending on where you live in Florida.
Florida law requires insurance companies to offer homeowners discounts or credits for existing building features or home improvements that reduce damage and loss from hurricanes. Florida insurance companies are required to file these discounts with the Office of Insurance Regulation.
This Web site offers homeowners general discount information by insurance company and explains what range of discounts may be available. Discount information is available for an estimated 60 insurance companies on this Web site, and updates will continue to be posted.
DISCLAIMER: A new law passed during the 2006 Session requires the Office of Insurance Regulation to evaluate all discounts filed by insurance companies and to ensure insurance companies are providing eligible homeowners with applicable discounts by July 1, 2007.
The discounts presented at the end of the survey are given as a percentage of the wind portion of your total insurance premium. The wind portion of your premium is between 15 and 70 percent of your total premium, depending on where you live in Florida.
HOW TO APPLY FOR YOUR INSURANCE DISCOUNT
1. Contact your agent or your company directly to find out the specific items for which discounts are available.
2. Verify the amount of the discount for each item as it applies to YOUR policy. For example: Hurricane shutters will result in a 30 percent discount on the windstorm premium. The windstorm premium is $300 of the total $600 annual premium. Therefore, the discount will equal a $90 annual savings on the premium.
3. Request the specific criteria that is needed to apply for and receive the discounts that are listed for your company. Example: Does the roof need to be inspected by a certified wind inspector? Do the shutters need to meet a specific wind resistance rating?
4. Verify the documentation that needs to be submitted in order to apply for and receive the discounts. Example: photos of the items installed, proof of purchase and installation.
5. Verify to whom the documentation should be submitted. Be sure to keep copies of all documentation, the date submitted and the mailing verification information.
6. Request confirmation of when the discount will take effect.
7. Verify if the discount will be in the form of a premium discount, a credit to your premium balance or a refund on premium paid.