Florida Statute 627.0629(1) requires insurance companies to offer Florida homeowners "discounts, credits, or other rate differentials..." for construction techniques that reduce damage and loss in windstorms. Florida insurance companies were required to submit filings by March 2003 that provide for these wind mitigation discounts. The insurance company filings began to take effect during 2003. In October 2006 Rule 690-170.07 was passed requiring insurers to increase insurance discounts for wind mitigation features in their filings with the Office of Insurance Regulation. Each year, as insurance companies have submitted new filings, the Wind Insurance Savings Calculator has been updated to reflect the filings that contained the latest information about premium savings. The discounts estimated on this website are for single family houses and owner-occupied units of multi-family dwellings and was last updated January 2011.
Insurance company filings are complex, and it is impractical for this web site to quote a wind premium in dollars for your house. Hence, The wind insurance savings presented herein are given as percentages of the wind portion of your total insurance premium. These percentages have been derived through an interpretation of the public filing from each insurance company. The wind portion is generally between 15 and 70% of the total premium depending on where you live in Florida. When comparing percentage discounts for a single company, the percentages can be approximately converted into dollars by multiplying the wind premium in dollars by the percentage discount. When comparing percentage discounts across companies, it is important to understand that the company with the highest percentages may have a higher or lower base wind premium than another company with lower percentage discounts. Therefore, the highest percent discount may not always convert to the lowest total wind premium. You can get more information by directly contacting the insurance companies you are interested in.
