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Want to Lower Your Annual Insurance Premium in Florida?

By Sandy Shores FL Realtor®, Melbourne Real Estate

Real Estate Broker/Owner with M & M Realty of Brevard Inc. BK629999

January 26, 2009 01:14 AM

My safe florida home wind inspections My annual homeowners insurance bill came in the mail the other day. It's not due until the end of April, but it is always sent out 2 to 3 months ahead of time. I was very curious and a bit nervous to see what my premium was going to be this year, as I felt certain that it would probably go up (as they always seem to - you know how insurance is.)

Well, the bill was the same as it was last year, $698.00. I was absolutely tickled!

In 2007 my insurance premium was over $1700.00 a year. Then I had a free wind inspection done on my home. A certified, licensed inspector came out and checked the doors, the windows, storm shutters (if there are any), the roof, the bracing on the roof and any upgrades made to the home. The items that they focus on are items that will keep your home protected in case of a tropical storm or a hurricane. If you don't have wind upgrades to your home, then they recommend the necessary precautions you should take to prevent severe damage in the event of a storm.

In many instances, if your home has been upgraded with new windows, a newer roof, storm shutters, you may be eligible for deep discounts on your insurance policy.

Since I had a new roof in 2005 and a new garage door my annual insurance premium went from over $1700.00 to $698.00. I couldn't believe the discount. I have told many, many people to have the inspection done and most have saved no less than $300 to $500 a year on their insurance.

The state of Florida is still offering wind inspections to residents on their single family Florida properties through the My Safe Florida Home website.

They performed 400,000 inspections for free. Although the free inspections are no longer available, you can pay to have the inspection done. I believe the cost is approximately $150 - $200, but check with the individual inspector to be sure. Certified inspectors can be located online on the My Safe Florida Homes Webite. It may be well worth the cost of the inspection for the savings on your annual insurance.

This article is authored by Sandy Shores, Brevard County Real Estate

Melbourne Florida Real Estate News

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Mary Douglas

United Country Ponderosa Realty, Red Feather Lakes, Colorado - Red Feather Lakes, CO

REALTOR, Red Feather Lakes, Colorado

Wow Sandy !! That is a huge savings! Besides the savings in your premiums, it seems like the inspection could save 400,000 people from losing their home in a Tropical Storm or Hurricane!! What a spectacular idea! Thanks for the great post, Sandy!

Jan 26, 2009 02:08 AM

Paul S. Henderson, REALTOR®, CRS

Fathom Realty Washington LLC - Tacoma, WA

South Puget Sound Washington Agent/Broker!

Sandy, I always like to see good news on a Monday morning! An ounce of prevention. So by getting the new roof and garage door the insurance savings are actually paying for the improvement. How cool is that...

Sandy Shores FL Realtor®, Melbourne Real Estate

M & M Realty of Brevard Inc. - Melbourne, FL

Brevard County Real Estate, Florida's Space Coast

Hi Miss Mary, It's a great program! That was the intention of the program to help save insurance companies and homeowners major losses during a storm.

Hi Paul, You're absolutely correct! They even had a matching grants program, where they would agree to match the cost of putting on a new roof, new windows, new storm shutters, new garage door. I think it was up to $5000. So they would match you dollar for dollar. The irony of the situation is that I lost my roof during Hurricane Jeanne and Frances in 2004, as did many of my neighbors and friends.

Jan 26, 2009 03:40 AM

Gary Woltal

Keller Williams Realty - Flower Mound, TX

Assoc. Broker Realtor SFR Dallas Ft. Worth

Sandy, the Florida insurance bills for homes seem like they even exceed Texas now, where we used to have the highest ones in the nation. It must be that hurricane premium that is sticking with you.

Jan 26, 2009 09:17 AM

Rich Mielke

REMAX Results, Frederick MD - Frederick, MD

REALTOR, Frederick Maryland Real Estate

Sandy, that is great news. We have heard so much about how high homeowners premiums had gotten in Florida.

Jan 26, 2009 12:43 PM

Ann Hayden 636-399-7544

Berkshire Hathaway HomeServices Select Properties-St. Louis Missouri - Des Peres, MO

SelectAnn.com

Sandy,

This is really awesome information. I wonder if they would give discounts in Missouri. We have tornadoes....

Ann Hayden not enjoying the snow/sleet in Wildwood, Missouri

Jan 26, 2009 02:21 PM

Mike Frazier

Carousel Realty of Dyer County - Dyersburg, TN

Northwest Tennessee Realtor

Does this mean that the condos built to withstand hurricanes will not have a high insurance bill?

Jan 27, 2009 02:01 AM

Hi Gary, After the hurricanes of 2004 our insurance premiums sky rocketed. Between that and increased tax bills it drove some out of their homes or into foreclosure.

Hi Rich, The My Safe Florida Home Program has been great in helping homeowners prepare for upcoming storms and to safe hundreds on their homeowners policies.

Hi Ann, This is great info for those here in Florida

Mike, I know that they are looking at properties more favorably that were built after 2005, as they were built with much more stringent building codes (since they changed after the 2004 hurricanes.) The updated building codes are definitely a factor in these owners get quoted lower insurance premiums. For older properties though, the Florida wind inspections can only be completed on single family homes.

Jan 27, 2009 02:33 AM

You are a wealth of knowledge... Thank you for all you share!

Ann Hayden wishing the freezing rain would stop in Wildwood, Missouri

Jan 27, 2009 03:45 AM

Thanks Sandy, that makes a lot of sense. Wouldn't the high rise condos be built to higher building code than one or two level? For instance, 19 story condo building built in 1998 right on the ocean.

Jan 27, 2009 05:08 AM

Hi Ann, Thanks for the nice compliment. Well appreciated!

Jan 28, 2009 12:58 AM

Hi Mike, I don't know exactly what the building codes and restrictions are for condo construction, although I would certainly agree that ocean front units would have to have very stringent construction standards. Funny, in some areas of our county, even with the stringent building codes to make these units structurally safe, it's erosion at the base of the units that is becoming the very serious issue. In some spots the sand just keeps washing away.

Jan 28, 2009 01:02 AM

Want to Lower Your Annual Insurance Premium in Florida?

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