Have you heard of wind mitigation reports? If you reside in a hurricane zone, consider getting one. It can safeguard your home from wind damage and lower your insurance premiums. Hurricanes and tropical storms have caused billions of dollars in property damage. Insurance companies have responded by raising premiums and deductibles, making it more expensive for homeowners to secure their properties. There is a way to cut your insurance costs and protect your house. Get a wind mitigation assessment to identify and reinforce your home’s weak sections. This may lower your insurance costs. This post will examine how much does a wind mitigation report save on insurance?
What is a Wind Mitigation Report?
A wind mitigation report inspects a home’s construction characteristics to estimate its wind resistance. This study often examines the roof shape and covering, hurricane straps or clips, and window and door types. The report can help homeowners cut insurance costs by identifying places for wind resistance upgrades.
How Much Can You Save on Insurance with a Wind Mitigation Report?
The Florida Department of Financial Services reports that homeowners can save up to 88% on wind insurance rates with a wind mitigation report. Texas and Louisiana have high wind risk and may save you money.
Before investing in the inspection, check with your insurance company to see whether they give discounts for wind mitigation reports. The qualities of your home determine how much insurance you can save. On average, homeowners can save 10% to 40% on their insurance premiums.
How Much Is The Florida Wind Mitigation Discount?
Wind mitigation discounts might save you money on your insurance premiums. The age of your home is crucial. Higher savings are available for homes built after 2002 due to their wind-resistant characteristics. However, older homes may need costly upgrades to qualify for reductions.
The location of your home affects how much you can save. Coastal homes need extra wind resistance. Therefore, these homes may qualify for bigger reductions than inland homes.
Finally, how much you save depends on your home’s wind-resistant features. Impact-resistant windows and doors are more expensive than hurricane shutters but more effective at protecting your property. Therefore, homes with impact-resistant features may receive bigger discounts.
Wind mitigation discounts can save homeowners anywhere from 5% to 88% on their insurance premiums. The actual amount depends on the above criteria.
How to Get a Wind Mitigation Report
To get a wind mitigation study, homeowners can engage a licensed inspector. The inspection usually costs $75 to $200, depending on the home’s size and location.
1. Call your insurer
The first step is contacting your insurance carrier to see if they need a wind mitigation report. Your homeowner’s insurance company may require a wind mitigation report.
2. Get a Certified Inspector
If you need a wind mitigation report, you’ll need a professional inspector. Find a Florida Department of Business and Professional Regulation (DBPR)-certified inspector or licensed general contractor.
3. Book an Inspection
You must schedule an inspection after hiring a licensed inspector. The inspector will assess your home’s wind resistance. He will inspect hurricane shutters, reinforced garage doors, and roof-to-wall connections.
4. Acknowledge the Report
After the inspection, the inspector will submit a wind mitigation report. The inspection results and wind-damage-reducing features will be in this report. The assessment will recommend wind-resistant housing upgrades.
5. Send the Report to Insurance.
You’ll need to give your insurance carrier the wind mitigation report. Your insurance carrier will review the report to determine if discounts can be applied to your homeowner’s premiums.
6. Make Improvements
You can undertake home improvements the wind mitigation study recommends to reduce wind damage. Improvements lessen wind damage and lower insurance premiums.
7. Schedule Follow-Up Inspections
You may need to schedule follow-up inspections to ensure your home modifications were done appropriately. The initial inspector or a separate licensed inspector might do these inspections.
How Many Wind Mitigation Reports Should You Get?
According to NAHI, homeowners should update their wind mitigation reports every five years. This proposal assumes that homes may change, affecting their wind mitigation measures. If you’ve made home improvements, your wind mitigation report may need to be updated.
It’s also worth mentioning that some insurance companies ask homeowners to renew their wind mitigation reports every year or two. The insurer’s risk assessment of your home’s location usually dictates this need. If you reside in a hurricane-prone area, your insurance may request more frequent wind mitigation report updates.
What kind of information is included in a wind mitigation report?
1. Roof Covering
A building’s wind resistance depends on its roof. Material type, age, and condition will be reported.
2. Attaching Roof Deck
Wind resistance depends on the roof deck’s attachment to the property’s frame. The report will specify the type of attachment, such as nails or screws, and its spacing and size.
3. Wall-Roof Connection
The roof-wall connection determines wind resistance. The report will specify the sort of attachment, such as straps or clips, and its spacing and size.
4. Water Resistance Secondary
In the event of roof damage, secondary water resistance prevents water penetration. The report will indicate whether the property has secondary water resistance.
5. Opening Protection
Wind damage can affect windows, doors, and other openings. Impact-resistant windows or shutters shall be listed in the report.
6. Garage Door Bracing
Wind damage is common to garage doors. Bracing for wind resistance will be listed in the report.
How to get a wind mitigation inspection
Wind mitigation inspections are crucial to safeguarding your house from wind damage. Wind mitigation inspections require these steps:
1. Research and identify a qualified wind mitigation inspector: identify a licensed and experienced inspector who specializes in wind mitigation inspections. Your insurance company, friends, and relatives can provide you with advice. To ensure precise and dependable results, hire a recognized inspector.
2. Attend the inspection: Attending the inspection allows you to ask questions and better understand your home’s wind mitigation features. The inspector will inspect your roof, windows, doors, and garage doors to assess wind damage resistance.
3. Get the inspection report: The inspector will give you a complete report after the inspection. This report will detail your home’s wind mitigation features and suggested modifications. Keep this report for your insurance company and documents.
4. Submit the report to your insurance company: Contact and submit the wind mitigation inspection report. They’ll evaluate the report to see if you qualify for wind mitigation insurance reductions. These reductions can reduce your insurance premiums.