In Florida, residential property policies are also required to cover damage caused by windstorms, such as hurricanes. Insurers must include this coverage in their policies, although policyholders can sign an exemption to remove it from their insurance plan. Keep in mind that flood damage is not part of this basic coverage. You can't exactly buy hurricane insurance in Florida.
You can only buy insurance that covers you for parts of a hurricane, as we explained above. However, if you live in an area that has a history of serious hurricane damage, such as Florida, your insurance policy may exclude or limit hurricane coverage. Taking photos of your property before and after a hurricane can be used as solid evidence of damage caused by the hurricane. If you want to get windstorm insurance from a private insurer, the Florida Market Assistance Plan can probably help you or the CHOICES Program of the Florida Office of Insurance Regulation.
Insurance policies related to natural disasters can be complex, and hurricane insurance often doesn't cover damage such as flooding on your property. In Florida hurricane insurance is mandatory for people who own and have a mortgage on homes or condominiums, including homeowners, in the form of a windstorm insurance policy. For the hurricane deductible to take effect, your area must experience a “triggering event,” such as a hurricane warning. Flood insurance policies typically cover the contents within your property, as well as the building itself.
While all renters insurance policies in Florida cover damage caused by the hurricane to a tenant's belongings, renters insurance is not required by law. It's not a legal requirement for homeowners to have windstorm insurance in Florida, since homeowners insurance generally covers damage caused by strong winds. Since many insurance companies include windstorm insurance in their policies when they're purchased, you probably won't have to do anything extra when buying your policy, since hurricane insurance coverage will already be included. You can find out the deductible percentage of storm damage by visiting the statements page of your insurance policy.
Homeowners who live in hurricane-prone states, such as Florida, may have to pay a separate hurricane deductible under their home insurance coverage. However, homeowners who live in high-risk hurricanes areas may need to purchase windstorm insurance, as wind damage may be excluded from their home insurance policy. If people were allowed to buy insurance when that rare emergency is already happening, the insurance industry wouldn't be in business for long. As you can imagine, you can get insurance that protects you from major insurance companies and minor insurance companies.
Since hurricane insurance is included in Florida's home insurance policies, the average cost of hurricane insurance in Florida is already calculated in its premiums.