It’s no secret that Florida has been hit with a number of major hurricanes over the past few years. This has caused an increase in the number of claims made with home insurance companies, resulting in higher premiums for homeowners.
Unfortunately, this trend has prompted many major home insurance companies to leave Florida altogether. As the risk of major storms increases each year, many companies have decided the risk outweighs the reward and have chosen to discontinue coverage in the state. With some of the nation’s largest insurers pulling out, many Floridians have found themselves with no options for home insurance coverage.
The high cost of home insurance in Florida is greatly impacting long-term residents. In addition to the burden of high premiums, Floridians have been hit with postponements of home insurance policy renewals, policy cancellations, and declining coverage and claim limits.
Not only does the lack of available home insurance leave many homeowners without coverage at all, but for those who are able to obtain coverage, the premiums remain high, and the coverage limits remain low. This leaves many homeowners feeling overwhelmed and unprotected in the face of rising storm threats.
Although the situation is dire, there are ways to help protect your home in the event of a major storm. One way is to make sure your home is properly prepared by having your roof and wind mitigation checked before hurricane season arrives. It is also important to make sure all of your important documents are stored in a water-proof container, and to check with your insurance company to see if there are any discounts or incentives available. With the risks of hurricanes rising each year, it is more important than ever for homeowners in Florida to be aware of their home insurance options (or lack thereof). While the situation may be discouraging, there are still a few ways to ensure your home and family are protected in the event of a major storm.
A 4-point inspection and wind mitigation inspection are two important steps for homeowners to take in order to save money on their homeowner's insurance policy. While many homeowners are aware of the importance of keeping their home well-maintained, these two inspections can provide insight into the overall condition of a house and help owners spot potential issues before they become costly problems.
A 4 point inspection is a comprehensive inspection of the four major components of a house: the roof, electrical, plumbing, and HVAC systems. A professional home inspector will check each system for signs of wear and tear, wear and tear, as well as for broken, damaged, or outdated components. Knowing the current condition of these systems can help homeowners identify any potential problems and address them before they become costly repairs. By completing a 4 point inspection, homeowners can also receive discounted premiums on their homeowner's insurance policies.
A wind mitigation inspection is a specialized inspection of the exterior of a house to assess the home’s ability to withstand strong winds. The inspector will look for structural features such as hurricane shutters, roof-to-wall attachments, and gable end brackets to determine the wind resistance of the home. Having this inspection done can provide homeowners with a discount on their homeowner's insurance policy, as they will have proved that their home is better prepared to face high winds and other weather-related issues.
For homeowners looking to save money on their homeowner's insurance policy, a 4-point inspection and wind mitigation inspection are both smart steps to take. Not only can these inspections provide savings on premiums, but they can also help homeowners identify any potential issues before they become expensive repairs. For any homeowner looking to lower their home insurance costs, these inspections are a must.