What is Wind Insurance and do I Need It?
Winds can be highly destructive, resulting in billions of dollars in property damages and injuries to people. In Florida, you may experience high winds from tornadoes and hurricanes. Straight-line winds associated with ordinary storms are also a risk. They can exceed 160 mph and are often mistaken for tornadoes.
Windstorm insurance is designed to protect damage to property and the loss of possessions resulting from high winds. If you live in an area that’s prone to inclement weather, high winds, and considered high-risk, it’s a good idea to invest in wind insurance.
The coverage isn’t something that every policy necessarily offers. You’ll have to check your policy to see if it’s included and if there are any limitations. If wind damage isn’t included as part of the policy, and it’s often excluded for coastal dwellers, you’ll have to add wind insurance. Wind insurance often includes damage from hail, but that’s something that varies among insurers.
Most insurance companies require that policyholders pay a percentage of the damages rather than a flat deductible before they’ll provide reimbursements. Percentages can range from 1-5 percent, but amounts of 10 percent aren’t uncommon. You may encounter two types of deductibles, one for hurricanes/named storms and one for windstorm/wind/hail. Each comes with its own specifications.
Other companies may offer you a discount for not including the coverage in your homeowner’s policy. It provides immediate savings but leaves you without coverage if high winds take off your roof. You may also require special permission from your mortgage holder to opt-out of the coverage.
If you can’t find affordable wind insurance coverage or options you like, you may qualify for protection through a Beach and Windstorm Plan. The group plans are administered by the government and coverage is pooled by private companies.
For more information about how The Sena Group can help you with any
of your insurance needs, please contact us at 561-391-4661.
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The Sena Group
6501 Congress Ave., Ste. 100
Boca Raton, FL 33487
