Wind Mitigation Reports are used by the citizens of Miami to get discounts off their premiums from an insurer. Various insurers provide Wind mitigation insurance to house owners situated in coastal areas like Miami. These insurance companies provide coverage for residential as well as commercial buildings in Florida, which protect property against damage from high-speed winds or tornadoes. These insurance companies provide various services like Wind Mitigation, Roofing Certificates, Flood Elevation, and 4 Points Inspection.
Categories of Constructions eligible for Wind Mitigation Inspections
- Residential Homes (Single/Multiple Family)
- Commercial Buildings
- Town homes
- Cooperatives Houses
Companies offer windstorm discounts to building owners if they satisfy the criteria of the insurer. The structures must be constructed to minimize losses to a building from high-speed winds and other wind-related storms, such as hurricanes.
The necessary parameters for wind discounts
The major elements considered by insurance companies building owners before giving windstorm discounts include:
- Real outline/ shape of roof
- Steel-clad Roof Decking
- Roof Sand Addition
- Window Shutters/Safeguards
- Use of Hurricane Clips / Straps
- Wind Impact Resistant Windows/ Wind Resistant Sticking
The Wind Mitigation Discounts
Wind Mitigation discounts are applicable towards the windstorm part of total insurance premiums of the building owner. Windstorm portions vary from location to location, for example in the state of Florida, windstorm portion is approximately 10% to 65% of the total premium amount. The premium calculation part is very complicated and should only be done by experts.
Three key parameters used in determining wind mitigation discounts include:
- Number of the wind resistant characteristics available on the construction site
- Location of the building
- Valuation of the building
The government of Florida has very strict regulations related to Wind mitigation. As per the law, every insurance company must give windstorm discounts, related credits, and price differentials to building owners if the building meets the well-defined construction techniques meant to minimize the damage caused by hurricanes, thunderstorms, and tornadoes.
Wind Mitigation Reports focus on the following eight safety features:
- Security: It shows that the house is fully secure and safe towards any damages by the windstorm like hurricane.’
- Wind Resistant Accessories: It also provides the check over all the accessories and parts of the house that might be substantial in the case of any windstorm event. If the fixtures are correctly implemented into the structure of the house, then it reduces the chances of significant losses.
- The report also verifies that the house can be sold and purchased by any individual who is interested in buying, or selling properties near the coastal areas of Miami.
- The wind mitigation report also reflects that the residents of the city are following the rules and guidelines related to the windstorm resistant construction.