News & Information: Market Diversity Quick Q&As

Market Diversity - Homeowners Insurance

Friday, August 2, 2013  
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Q. How can we help our diverse marketplace save money on homeowners insurance?

A. Encourage wind mitigation inspections, which look for construction features that reduce hurricane-related losses such as a hip roof, concrete block construction, the presence of gable end bracing, shutters and opening protections, the presence of roof-to-wall attachments, and the presence of a secondary water barrier. In Florida, premium discounts for certain favorable wind mitigation features are mandated by state law and can total 45 percent of the original policy's premium.

Market Diversity Quick Q&As are provided by the ORRA Market Diversity Subcommittee as a service to ORRA members.

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