Having a house on the Florida shore is a dream come true for many residents. Properties at or near the beach can command top dollar. If you are like most homeowners, you want to protect your investment by purchasing the right insurance. At Tyler & Hamilton, P.A., our team has experience representing policyholders when they are denied insurance claims.

The United States hurricane season begins June 1 and continues through the end of November. According to Insurance Market Source, most coastal states affected by high winds have a wind pool. This is government-subsidized coverage against hail and windstorm damage. However, it does not cover everything. If you have a high-value home in a wind pool area, you may want Excess Wind insurance for coverage gaps. A wind migration inspection can determine if your property qualifies for premium credits towards the policy cost.

Inspectors look at whether the roof is up to code and if there are hurricane shutters present. The age of the home, hurricane wraps and hip roofs can also determine whether the house is likely to withstand storm season. Unlike other types of insurance in which there is a flat deductible, the Excess Wind policy is a percentage of the home’s worth.

If your home’s value is $1 million and the deductible is ten percent, then you would be responsible for $100,000 in repairs before the policy activates. Wind Only policies and Named Storm policies can help you get the most coverage when bundled with homeowners and other appropriate coverages.

Binding suspensions are common for insurance carriers during storm season. This means they may not write Wind related policies during storm season. However, if you already have these policies in place and sustain wind damage, and you don’t receive the full benefits of the policy, the carrier may be liable. Visit our webpage for more information on this topic.