Thursday, March 10, 2011

Have you had your property inspected for possible wind mitigation credits?

Are you aware that Section 627.0629 of the Florida Statutes requires insurance companies to offer Florida homeowners "discounts, credits, or other rate differentials" for construction techniques that reduce damage and loss in windstorms?
This program pertains to all single family homes, condominiums, villas and other multi-family buildings.

The items which are subject to inspection for such credits or discounts are those that enhance roof strength, roof covering performance, roof-to-wall strength,wall-to-floor foundation strength, opening protection and window, door and skylight strength.

Several years ago, my husband and I had our roof (a Hip design), windows, garage door, gable bracing and roof deck fasteners inspected and our insurance premium with Liberty Mutual was reduced by $3,000 at that time as a result of the Mitigation Certificate we received; the savings continue each year since our base premium was reduced. The inspection itself cost us less than $200.00. It really was the gift that keeps giving and until a neighbor had mentioned that these credits were available if our home's construction met the various guidelines, we were unaware of the potential to save on our windstorm premium.

I suspect that most folks do not know that there is an ability to inspect their homes and their condominium building to apply for these wind mitigation credits from their insurance company. They might similarly not know that every insurance company operating in our State is required to include "actuarially reasonable discounts, credits, or other rate diffrentials or appropriate reductions in deductibles for properties on which fixtures or construction techniques demonstrated to reduce the amount of loss in a windstorm have been installed or implemented."

If you have not already discussed these inspections and credits with your insurance agent, now is the time to do so.

This work by Donna DiMaggio Berger, Esq. is licensed under a Creative Commons Attribution-NoDerivs 3.0 Generic License.

1 comment:

  1. I think it's important to have your property inspected for possible wind mitigation credits. You should be aware of that law.

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