This week, we’re learning home insurance tips and tricks from my trusted friend and colleague, Abdiel Donoso. He’s the owner of Making a Difference Insurance, an independently owned and operated agency based in Pembroke Pines, Florida.
I’ll let him take it from here…
Thanks, Andy!
My main advice is simple: Have an expert review your home insurance policy to make sure you’re getting all the credits available.
Home insurance, especially for South Florida, has shot up in price over the last few years. It’s a frustrating expense that you unfortunately can’t avoid. But many residents are unaware of credits they could qualify for, given the proper education.
For example, the credit for properly installed shutters could be worth up to $2,000. However, you might have shutters installed on every window of your house and still not qualify for the credit.
Why?
Most insurance carriers serving Broward, Miami-Dade and Palm Beach counties take an all-or-nothing approach to shutter/impact window credits. That means you have to have every opening in your house protected in order to qualify for credits on your home insurance.
That includes windows, doors and garage doors. It also includes that small skylight at the top of your roof that you might not think about when it comes to boarding up your home ahead of a hurricane.
I’ve read policies where residents think they have full protection (and the corresponding savings on their policy), but they don’t.
The problem might be a missing label on their garage door. Or they have a section of glass block that needs to be protected.
Sometimes the inspector just can’t read the label along the hinge of your front door. The label might have faded over the last few decades. Or you might have accidentally painted over it. But the inspector won’t put his license in jeopardy if he isn’t sure what the label says. So he just won’t give you credit for the wind-mitigation of that door.
That means you lose out on $1,000 to $2,000 in savings.
A plethora of home inspectors and insurance agents won’t give the details of what credits you have received and (more importantly) didn’t receive. All you get is a final premium on your home quote without an explanation after the agent reviews the inspection report, and that’s it!
How do you save what you can as insurance premiums are rising? Well, the more protected the house is, the cheaper the insurance.
Your action items
Your challenge is to complete at least one step this week! Complete all three steps for the best case scenario.
Step 1: Make sure you have the right protections!
The first step is to make sure all your windows, doors and garage doors are properly secured against hurricanes.
- Anything not designed to withstand a hurricane should have shutters.
- For any odd openings, like glass block, adding screws to the concrete will help you board up that opening ahead of a hurricane. And, it proves to the inspector that you’re prepared!
- Make sure the protections are documented! If you’re buying a new home, make sure you know what type of windows and doors were installed … and when.
Step 2: Ask questions during your inspection
Find a property inspector who is willing to explain his or her report thoroughly. Your goal is to avoid any surprises in your insurance premium quote.
Here are some questions you can ask:
- Did you report any cause for concern to my roof, electric panel, plumbing system or HVAC ( heating, ventilation, and air conditioning) system?
- Is there anything disqualifying my home from full wind mitigation protection?
- Are there any steps you would recommend to help protect my home better?
- Where do you think my home is missing out on insurance credits?
If you need an inspector you can trust, I recommend Brad Redmin with National Property Inspections.
Step 3: Claim all the credits you can
One simple claim that’s worth $150 to $200 a year is for your alarm system.
- To qualify, you need to show your insurance carrier proof of an installed alarm system that’s connected to emergency services.
- You’ll need a current certificate of coverage or a recent contract within the last 30 days.
If you have a home built before 2002, consider updating your roof and getting a new wind mitigation inspection. The state of Florida has updated its building codes in the last two decades, meaning that older houses usually don’t have the same wind mitigation protections
Finally, make sure you get the right permits for any updates on your home. Most insurance carriers won’t consider any upgrades in their evaluation of your home unless the right documentation is in place.
If you have any questions, you can contact Making a Difference Insurance at 954-541-9232. Ask for Abdiel.
