You may have a path to lower your home insurance premiums with the help of a safe home grant courtesy of the state of Florida.
State Chief Financial Officer Jimmy Patronis told News 6 the state set aside $100 million this year to cover improvements via impact windows, garage doors and entrance doors.
“We’re trying to incentivize people to harden their homes and get that windstorm mitigation,” Patronis said.
Owners of any Florida single-family residential property may apply for a free home hurricane inspection. That information will provide a list of needed improvements and the insurance savings per improvement.
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The program will provide $2 in grant funds for every $1 the homeowner provides.
“It will be up to $10,000 matching,” Patronis told News 6. “So if you spend $10,000, the state is going to write you a check for $10,000.”
Lisa Miller, the former assistant insurance commissioner under Gov. Jeb Bush, said the program makes perfect sense because there is no obligation.
“The inspection will tell you the estimated savings of what your insurance premium will be,” Miller said. “Forty cents of every Floridian’s premium on average goes to pay for reinsurance, so our rates are practically the highest in the nation.”
Re-insurance is the product that insurance companies pay to cover costs.
“If your insurance hasn’t gone up 50% in the last two years, you don’t have a home,” Patronis told News 6. “I can’t control interest rates. I can’t control inflation.”
Patronis said the safe home grants will help counter the sticker shock.
You can apply for the free home inspection and get additional information on the grants at mysafeflhome.com.
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