Florida Insurers Question Rules over Hurricane Preparation Discounts

12/07/2009

Homeowners have long known that a good way to get a break on their insurance policy is to invest in hurricane-proofing upgrades, as well as other safety features such as fire equipment or burglar alarms.

However, a report in the Daytona Beach News-Journal cites what may be an emerging backlash among some insurance companies in Florida who believe that they are being required to provide too many of these discounts at a time when they are still dealing with high costs from major storms in the recent past.

"The insurance companies want to reward and incentivize their customers, but they don't feel the current discounts are valid," former state insurance official Lisa Miller was quoted as saying by the newspaper, which also noted that various companies are studying the cost-effectiveness of such discounts.

Some of the upgrades in question can include reinforced rooftops and shutter protection devices for a home's windows and doors.

While it remains to be seen if the discussion over discounts for hurricane protection is limited to Florida or will become a more national trend, homeowners should always remember to check with their insurance companies to determine what discounts they are eligible for and what other price breaks may be available to them.

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