Premium Discounts w/ Upgrades

Florida Insurers have been required to offer policyholder discounts for wind-protection features many homes already have or can easily be added since 2002. However, most homeowners in Florida still don’t know about these discounts.

In May a new law was passed that requires Insurance companies to list what is covered under the policy and what discounts may be available to the policy holder. If a home has shutters and a reinforced roof the premium may be up to 43% less than a similar home without these upgrades. It can be as simple as filling out a few forms and having the home inspected.

Discounts can start with the basic design of the home and the roof. Home with “hip” roofs are more likely to qualify for discounts over those with gabled roofs. Hip roofs allow the air to easily flow over the home because all sides slope up. Conversely, if a gabled roof has vertical surfaces and protrusions that allow for the wind to catch on them and theoretically rip the roof from the home in very high winds if such a home is not properly braced and reinforced.

Another consideration the Insurance companies give is the type of roofing materials used in the construction of the home. The types of straps or clips that are used to secure the roof, trusses and walls can affect the premium. Even the length of the nails used in the roof can get you a discount. Since Hurricane Andrew in the mid 90’s, the South Florida building code has required 2.5-inch roofing nails. Previously it was 2-inch. Of course a main consideration is what sort of prevention is on the openings. If you home has hurricane shutters or impact resistant windows and doors chances are you qualify for a discount.

To learn more about how you may be able to save on your insurance premium, contact you insurance provider.

Posted by Donald Urschalitz P.A. at August 19, 2005 04:26 PM