Are You Taking Advantage of Wind Mitigation Credits?
The State of Florida requires insurance companies to offer discounts for protecting your home against damage caused by windstorms. These discounts are known as Wind Mitigation Credits and are offered after a certified inspection is done to your home. Unlike some home inspections, like a four-point inspection, this one is not mandated by your insurance company or your lender and is completely optional. However, most wind mitigation inspections result in savings that at least cover the cost of the inspection in the first year, so why not? It is important to note that you will never be penalized for not having these safety features. Your insurance premiums can only go down, not up.
What Does a Wind Mitigation Inspection Include?
An inspector will come to your home and look for specific factors that would make your home more resilient to a windstorm. Specifically, they will be looking at your roof and home openings such as doors and windows. Florida wind mitigation inspectors examine these key safety features:
- Roof Shape
- Roof Bracing of Gable End
- Roof Deck Attachment
- Roof Covering
- Roof-to-Wall Connections
- Secondary Water Resistance
- Protection of Openings (windows and other openings)
These features will be evaluated to determine how wind resilient your home is with it’s current features. All Florida homes built after 2002 were constructed to certain safety codes that will likely result in a savings to you. If your roof has not been replaced after 2002 but was built after 1974, we still recommend having a wind mitigation inspection. Based on how it was constructed, there are some features of the roof that you may still qualify for discounts.
There are a few cost-effective measures you can take to safeguard your home and reduce your hurricane-wind premium. A few examples would be securing your roof with hurricane clips or wraps and hurricane protecting your windows, doors and other openings to your home. To qualify for the opening protection credit, all window and openings must be protected by wind impact resistant glass. This also includes a hurricane resistant garage door.
Cost vs. The Savings
A wind mitigation report will cost, on average, $75.00. However, with minimal wind mitigation features in place, the inspection will pay for itself in the first year. Credits can go up to the maximum savings of 88% off the hurricane/wind premium.
Good to Note
This credit is good for five years. After that time, a new inspection will be required to make sure that you still qualify for these credits based on the new forms submitted by the Office of Insurance Regulation.
Please contact your WWW Personal Insurance Advisor to discuss Wind Mitigation Credits & find out if you could benefit from the inspection.