Haris Ashley
Installing hurricane shutters can lower your insurance premium by decreasing the chances of your home being severely damaged in a storm. This, in turn, decreases the likelihood of your insurer needing to reimburse you for repair costs. In storm-prone areas, insurance companies are required to offer discounts to homeowners who have installed hurricane protection. This is called a wind mitigation discount. The discount you receive depends on the level of protection provided by the shutters. To benefit from this discount, you will need to get a wind mitigation inspection and notify your insurance company.
| Characteristics | Values |
|---|---|
| Impact on insurance payouts | Decreasing the chances of needing insurer reimbursement for repair costs, and therefore reducing monthly insurance premiums |
| How to get a discount | Shop around for hurricane shutters, get a wind mitigation inspection, and inform your insurance company |
| Discount amount | Depends on the insurance provider, but can be hundreds of dollars each month or thousands each year |
| Requirements for a discount | All openings must be covered by storm protection products or be impact-rated |
What You'll Learn
Hurricane shutters reduce the likelihood of storm damage
Hurricane shutters are an effective way to protect your home from storm damage. They are designed to be impact-resistant and hurricane-rated, tested to withstand up to Category 5 hurricane winds. They act as a barrier against wind, rain, hail, and flying debris, preventing broken windows and reducing pressure buildup inside your home.
- Impact Resistance: Hurricane shutters are designed to resist impact from flying debris and high-speed winds. They can withstand projectiles moving at speeds of up to 200 miles per hour, providing a strong barrier for your windows and doors.
- Protection Against Wind and Rain: By covering your windows and doors, hurricane shutters prevent wind and rain from entering your home. This reduces the risk of water intrusion and interior damage caused by strong winds.
- Pressure Reduction: Broken windows during a hurricane can cause pressure buildup inside your home, leading to potential roof failure. Hurricane shutters help maintain the integrity of your home's structure by reducing the impact of high winds and preventing windows from shattering.
- Safety for Occupants: Hurricane shutters not only protect your home but also provide safety for the people inside. They create a barrier that shields occupants from broken glass, flying debris, and the force of hurricane-force winds.
- Long-term Solution: Unlike plywood, which is a temporary solution, hurricane shutters offer a more permanent and reliable form of protection. They are designed to be quickly deployed and provide consistent protection during hurricane season.
- Insurance Discounts: Installing hurricane shutters can lead to insurance discounts. Insurance companies recognize the added protection they provide, and you may be eligible for a wind mitigation discount on your insurance premium.
Overall, hurricane shutters are a worthwhile investment for homeowners in storm-prone areas. They provide a strong line of defense against high winds, rain, and flying debris, reducing the likelihood of storm damage to your home and enhancing the safety of its occupants.
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Insurance companies offer discounts for hurricane protection
Insurance providers in areas where the risks of hurricanes and natural disasters are highest have policies that offer homeowners discounts on their insurance for installing hurricane protection.
In Florida, for example, homeowners insurance companies are required to offer wind mitigation discounts if you install hurricane shutters or impact windows and doors. The exact discount offered by insurance companies varies, but it can be as high as 30-45% in premium discounts.
To qualify for a discount, you will need to install hurricane protection on all openings of your home, including windows and doors that contain glass. You should contact your insurance company to find out the specific items that qualify for a discount and the amount of the discount.
Once you have installed hurricane protection, you will need to get a wind mitigation inspection to prove that your home has adequate wind protection. After the inspection, you can send the form to your insurance company to receive your discount.
The amount you can save by installing hurricane protection depends on your insurance provider. However, it can allow you to save hundreds of dollars each month or thousands each year.
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Wind mitigation discounts
In Florida, insurance companies are required to offer discounts to homeowners who take steps to protect their homes from wind damage. These are known as wind mitigation credits or discounts.
To qualify for wind mitigation discounts, you need to have a home inspection by a certified inspector who will check for features related to:
- Roof deck attachment
- Roof-to-wall connections
- Secondary water resistance
- Protection of openings (doors, windows, and other openings)
The cost of a wind mitigation report is, on average, $75-$150. The credits can go up to a maximum savings of 88% off the hurricane/wind premium.
The wind mitigation inspection is completely optional and is not mandated by insurance companies or lenders. However, it is worth noting that most wind mitigation inspections result in savings that at least cover the cost of the inspection in the first year.
Once you have had the inspection, simply provide a copy of your wind mitigation inspection to your insurer and they will reward your investment with a discount on your premium.
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Florida law requires insurance companies to offer discounts for hurricane protection
Florida law requires insurance companies to offer discounts to homeowners who install wind-resistant features on their homes. This is because taking precautions to protect your home decreases the chances of needing your insurer to reimburse you for repair costs.
In Florida, insurance companies are mandated to offer wind mitigation discounts, but the requirements for coverage and the discount amounts differ for each insurance company. Therefore, it is recommended that you contact your insurance provider to understand the specific requirements and discounts available to you.
The discounts offered by insurance companies can range up to 42% of the hurricane windstorm portion of insurance premiums. To qualify for these discounts, a certified inspector will usually need to examine your home for the necessary wind-resistant features. While you will have to pay for the inspection, the cost is often offset by the accrued premium savings.
Some of the features that may qualify you for a discount include hurricane shutters, impact-rated glass, roof-to-wall connections, roof deck fastening, building code equivalent roof covering, and hip roof shape.
It is important to note that the discount you receive is typically the same regardless of the specific type of hurricane protection you install, such as storm panels, accordion shutters, rolling shutters, or impact windows and doors. The amount you can save depends on your insurance provider, but it can amount to hundreds of dollars each month or thousands of dollars each year.
In addition to wind mitigation discounts, there are other ways to save on your insurance premiums. For example, you can shop around and compare the costs of different types of hurricane shutters, as the price and level of protection vary. You can also compare your insurance costs before and after installing hurricane shutters to see the potential savings.
By taking advantage of Florida's insurance laws and discounts, you can protect your home and reduce your insurance premiums.
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Notify your insurance company about hurricane shutters
Once you have installed hurricane shutters, you should inform your insurance company. This is because hurricane shutters can lower your insurance rate. Insurance companies like to see that you are taking precautions to protect your home. By installing hurricane shutters, you are reducing the likelihood of severe damage to your home in bad weather, which in turn reduces the chances of needing your insurer to reimburse repair costs.
In some areas, such as Florida, insurance companies are required to offer wind mitigation discounts to homeowners who install hurricane shutters. However, the requirements for coverage and the discount amounts can differ between insurance companies. Therefore, it is important to contact your insurance provider to understand the specific requirements and discounts available to you.
To prove that your hurricane shutters offer adequate protection, you may need to get a wind mitigation inspection conducted by a certified professional. This inspection will evaluate the features of your home to identify areas that are adequately protected and areas that need improvement. After the inspection, you can provide a copy of the inspection report to your insurance company to receive your discount.
By taking these steps, you can ensure that you are taking advantage of the cost-saving benefits of installing hurricane shutters. Not only will you be protecting your home, but you will also be rewarded with lower insurance premiums.
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Frequently asked questions
Yes, installing hurricane shutters can lower your insurance rate as it decreases the chances of your home being severely damaged in bad weather. This, in turn, decreases the chances of your insurance company having to reimburse you for repair costs.
The amount of money you can save depends on your insurance provider. Generally, installing hurricane shutters can save you hundreds of dollars each month or thousands each year.
To qualify for a wind mitigation discount, you must cover all home openings with storm protection products or have them impact-rated. You can then schedule a wind mitigation inspection with a certified professional to prove that your hurricane shutters offer adequate wind protection.
First, check with your insurance company to understand the inspection requirements for your specific policy. Next, schedule a wind mitigation inspection with a certified inspector. Finally, inform your insurance company of your decision to protect your home with hurricane shutters and provide them with a copy of your wind mitigation inspection.
There are several types of hurricane shutters available, including accordion shutters, storm panel shutters, colonial shutters, Bahama shutters, and rolling shutters. Each type has its own benefits and drawbacks, including cost.
