Hurricanes are a devastating force of nature that can cause severe damage to home and property. In Florida, homeowners’ insurance is required by law to provide coverage for these natural disasters. If you have just experienced a hurricane or know someone who has, this article will help explain how home insurance works when it comes to hurricanes and what you should do if the worst happens.
How does Hurricane Andrew affect home insurance in Florida?
Hurricane Andrew is one of the most catastrophic home insurance disasters in recent history. It was a category five hurricane with winds over 170 mph when it made landfall on August 24, 1992 and caused $24 billion worth of damages to homes and property in Florida alone. The Category Five Hurricane left more than 250,000 people homeless within just hours because of wind speeds up to 175 mph.
Others have been less disastrous but still a home insurance disaster for homeowners on the east coast, like Hurricane Sandy which caused $18 billion worth of damage in 2012 and hurricane Irene with an estimated cost at $15 billion in 2011. Hurricanes produce high winds that can cause significant structural damage or even destroy a home.
Even though these hurricanes were less catastrophic than Hurricane Andrew, they still caused considerable damage to homes and property as well as homeowners insurance costs for residents in Florida. To protect your home from natural disasters like hurricane and home insurance rates going skyrocketing should you experience one of these catastrophes, it is important that you understand what home insurance covers and how home damage is assessed.
Homeowners Insurance provides coverage for disasters such as Hurricane Andrew that cause significant structural damage or destruction of property due to high winds reaching speeds up 175 mph. If your home is damaged by a home insurance disaster like Hurricane Andrew, you are eligible for home repairs or total replacement.
Why it’s important to have home insurance in Florida?
Homeowners insurance is extremely important for homeowners in Florida, not only because of the looming threat of hurricanes but also due to other natural disasters like earthquakes and tornadoes. A home without home insurance can be a disaster waiting to happen as it leaves you vulnerable when your home sustains damage from these events. Most importantly, home insurers are required to provide home insurance to you by law in Florida.
Homeowners Insurance is important for homeowners in florida because hurricanes and other natural disasters can damage your home, leaving it vulnerable to more harm or even destruction if there’s another storm. Home insurers are required to give homeowners insurance by law which protects the home from these events as well as home insurance rates skyrocketing.
Tips on how to save money on your homeowners insurance policy
If you’re looking for ways to save money on your home insurance rates, there are many things that can help. One of the best things you can do is making sure that you purchase home insurance in Florida so that if a natural disaster does occur and cause home damage, then home repairs or replacement will be covered by home insurers.
Another way you can save home insurance rates is by purchasing a home or property that has home equity. Homeowners who have home equity in their homes are eligible for an additional homeowner’s discount which helps to lower home insurance payments each year.
If you’re looking to update your current home, then you may want to consider adding safety features like hurricane shutters, fireproof home, or a home security system. These safety features can help to lower home insurance rates even more and may also provide other benefits like lessening the risk of burglaries for homeowners who install them.
If you would to like to discuss your options for home insurance, please call us at 561-732-9305 our quoting hours are Monday through Friday from 8:30 AM to 5:00 PM. In addition, you can request a quote online. Please remember, We Handle All the Work, While You Save!
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.