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.