What is an Insurance Discount Inspection?
Welcome to the slightly confusing world of Insurance Discount Inspections. You may have heard of it referred to as: • Wind Loss Mitigation • Windstorm Mitigation • Florida Building Code Mitigation • Florida Building Code Credit to name a few. The essence of what is being said here is “Mitigation”, defined as “to lessen or make less severe” the damage to your home during a hurricane. The Law The new Florida Statue 626.0629 requires insurance companies to offer Florida homeowners discounts, credits, or rate differentials for construction techniques that reduce damage and loss in windstorms. Florida insurance companies were required to submit filings in March 2003 and provide for these wind mitigation discounts. The insurance companies’ filings began to take effect in 2003. Because Homeowners Insurance rates did not increase severely in 2003, the inspections were rarely mentioned and of little help to the consumers. With the huge increases of insurance rates in the past two years, the dis
