Yes, Lowes sells Fabric-Shield, Gallina, Eastern Metals and Storm Busters Panels, all are FBC Approved Products and qualify for Windstorm Discounts. With the savings typically recouped in one year these systems actually are the same or even cheaper than unapproved Plylox and plywood, the durability and residual values of an Approved system are even greater if you look 3-5 years down the road and may actually give a 100% ROI due to the insurance discounts.
The law provides that the Florida windstorm insurance premium discounts can be as high as 42% for superior wind resistant features. To qualify for that high of a discount, you’d need a lot more than hurricane shutters. The physical location of your home is the biggest factor involved in the discount
Those hurricane shutters you mentioned cost a great deal more than plywood shutters. Recouping the money spent on such expensive shutter systems via Florida windstorm insurance premium discounts is not at all feasible. Hurricane shutter retrofits on existing construction account for a rather minor insurance premium discount adjustment. Larger insurance premium discounts are available only when many other hurricane resistant retrofits are also accomplished such as hurricane straps for roof to wall connections, roof shape modifications (gable, hip, etc.), roof deck type improvements, roof deck attachment method improvements, type of roof cover, addition of secondary water resistance and some other factors. It’s a very expensive process.
The discount formula is very complex and each insurance company is allowed to use their own methods to determine the final discount. In large part the discount depends upon the age and location (wind speed region, terrain and wind-borne debris region) of your house. If your house was built before 2002, hurricane retrofits are going to be very expensive and you’ll never recoup the costs. In short, it is not uncommon to spend thousands of dollars on shutter systems only to realize a very small premium discount or no discount at all.
Based upon the simple cost benefit ratio, plywood shutter systems make much more sense. More private homes and commercial properties use plywood storm shutters than any other method.