Can You Get Hurricane Insurance in Florida?

Securing adequate hurricane insurance in Florida is a frequent concern for homeowners given the state’s geographical susceptibility to tropical storms and hurricanes. While a specific standalone “hurricane insurance” policy does not typically exist, coverage for hurricane-related damage is available through various components of property insurance.

Understanding Hurricane Coverage in Florida

“Hurricane insurance” is not a single policy but a combination of coverages addressing different perils. The primary components are windstorm coverage and flood insurance, as standard homeowners policies do not cover all hurricane-related damages. Homeowners insurance policies in Florida include coverage for windstorm damage, protecting against losses caused by high winds, hail, and wind-driven rain during a named storm. This coverage extends to the home’s structure, other property structures, and personal belongings.

Flood damage, including storm surge and rising water, is explicitly excluded from standard homeowners and windstorm policies. This type of damage requires a separate flood insurance policy, which is important in Florida due to its low elevation and vulnerability to flooding. Flood insurance covers physical damages directly caused by flooding to the building and its contents.

Additional Living Expenses (ALE) coverage, often included in homeowners policies, reimburses for reasonable costs if the home becomes uninhabitable due to a covered event. This can cover temporary housing, meals, and increased travel. Debris removal, which involves clearing fallen trees, branches, and other wreckage, is also covered by standard homeowners insurance.

Obtaining Coverage

Homeowners need to compile details such as the property address, construction type, and the age and condition of the roof. Documentation of any wind mitigation features, like hurricane shutters or roof tie-downs, is also valuable for potential premium discounts. For flood insurance, an Elevation Certificate may be necessary, as it provides crucial data about the property’s elevation relative to the base flood elevation.

Homeowners can approach the private insurance market by working with independent insurance agents who can shop quotes from multiple carriers. The private market in Florida has faced challenges, including limited availability and higher premiums, which can make securing comprehensive coverage difficult for some properties.

For those unable to find comparable coverage in the private market, Citizens Property Insurance Corporation serves as Florida’s state-backed insurer of last resort. Eligibility for Citizens requires that private market coverage is unavailable or that premiums from Florida-authorized insurers are more than 20 percent higher than Citizens’ comparable coverage.

The National Flood Insurance Program (NFIP), managed by the Federal Emergency Management Agency (FEMA), is the primary source for flood insurance across the United States. NFIP policies are available through various private insurance agents, and they typically have a 30-day waiting period before coverage takes effect.

Key Policy Considerations

Hurricane deductibles are a significant consideration, differing from standard deductibles by being a percentage of the dwelling coverage, such as 2%, 5%, or 10%. Florida law requires insurers to offer these percentage options, along with a $500 deductible choice. This deductible is triggered by a named hurricane and applies once per calendar year, regardless of multiple storms.

Policies also contain common exclusions, outlining perils or damages not covered.

Several factors influence the cost of hurricane coverage premiums. Geographic location plays a large role, with coastal properties facing higher rates due to increased exposure to hurricane risks. The property’s age and construction type also affect premiums, with newer homes or those built with more resilient materials like concrete block often qualifying for lower rates. The age and condition of the roof are also important factors.

The presence of wind mitigation features can impact premiums, as Florida mandates that insurers offer discounts for these improvements. Such features include impact-resistant windows, hurricane shutters, reinforced roof-to-wall attachments, and a secondary water resistance barrier under the roof. These features can reduce the risk of damage, leading to premium credits that can be as high as 50% for comprehensive mitigation efforts. Understanding policy limits for dwelling coverage, personal property, and additional living expenses ensures adequate protection in the event of a hurricane.