Wind Insurance in Florida for New Homeowners

Finding wind insurance in Florida has become more challenging because of the burden of storm-related losses to insurers. In the first half of 2016 alone, catastrophes striking the United States caused $13.5 billion in insured property losses, the Insurance Services Office reported in October. Because of the threat of hurricanes, only about 40 Florida home insurance companies still write new policies in Florida, and that number is even smaller near the coast.

Since most lenders require a homeowner’s policy that includes coverage for wind before they will approve a home loan, new residents seeking wind insurance in Florida should first become familiar with the “Wind Pool,” the coastal area with enhanced weather risk. A new resident can check online if a potential home is in this area.

Not all insurers provide wind insurance coverage for homes in the Wind Pool area, so a separate policy from a private insurer may be needed. Another option (although one with assessment fees and higher deductibles) is Citizens Property Insurance Corporation, the state-run insurance safety net for wind-insurance policies.

New residents should not only compare quotes from insurers, but also evaluate their experience. Insurers who have already insured clients in major hurricanes can be reassuring to work with in case the worst does happen.

Understanding their options for wind insurance will help new Florida residents have a smooth home-buying process—the first step in a happy transition to a new home!

3 Tips on Filing a Wind Insurance Claim

When your property is damaged during a wind storm, you need to file a claim with your insurance company as soon as possible in order to expedite the repairs. Here are a few things that Florida wind insurance companies suggest you do before filing your claim.

1. Document the Damages

Make a list of all the damages and take as many photographs as possible. Consider taking a few photographs of your neighbor’s damage, fallen trees on your street and anything else that provides proof of the severity of the storm.

2. Get a Quote

Call a contractor to assess the damages and provide a report with a cost estimate. Make sure you choose a reputable contractor. If you don’t know where to start, call your insurance provider for a list of recommendations.

3. Estimate the Value of Your Losses

If personal belongings were damaged as a result of the storm, make a list of all the items and estimate the cost of replacement. Examples include patio furniture, yard maintenance equipment and solar panels.

Florida wind insurance companies understand the consequences of sever wind storms. Help them help you get back on your feet by doing some preliminary work and submitting evidence and repair quotes along with your claim.