By Joel Moroney
jmoroney@news-press.com
Originally posted on June 03, 2007
Billie Blair found one of those deals that sounds too good to be true.
But she's a believer, saving $454 on her $2,122 homeowner's policy since a January inspection that cost her $150.
She saved more than 20 percent and expects to do the same every year.
"I can tell you five people that I told that get, or are in the process of getting, these reductions," Blair said.
And she could have gotten an even better deal — a free inspection through My Safe Florida Home and up to $5,000 for improvements.
With insurance rates at record highs and this weekend's start to what is expected to be a busy storm season, both your safety and pocketbook could hinge on having such an inspection.
Neither Blair nor neighbor Jim Hudson, 72, of South Carolina, lives in a new home — both were built in the 1960s.
Yet Hudson saved $522, dropping his policy to $2,432.
"I was already ahead this year and I would assume this will work in ensuing years," Hudson said.
Both paid $150 for the inspection from Bob Molloy, a licensed contractor.
"These are surcharges that the insurance company puts on your account assuming you do not have these things, when in fact you do," Blair said.
Hank Sawyer of Sawyer Insurance in Fort Myers said many of the deductions are new and homeowners are notified with their insurance paperwork.
"Your company is required to notify you ... then the ball goes into your court," Sawyer said. "(It) could get you some potential discounts on your policy. A lot of folks just kind of pay the bill."
Safe home
My Safe Florida Home began as a pilot program in 17 Florida counties at the end of last hurricane season.
About 80,000 have applied for one of the 400,000 free home inspections the program plans to complete in four years, according to Tami Torres, the program's administrator.
In Lee County, 877 homes have been inspected and 276 homeowners have applied for grants to upgrade their home.
The wait time for an inspection is about 60 days, Torres said.
The grants pay for half of upgrades up to $5,000 for those who live in homes with an insured value of less than $300,000.
The homes must be in coastal hazard areas and meet other criteria.
But during the pilot phase, which ended in January, many of the 14,000 homeowners saved just by having the inspection.
"On average those homeowners were eligible for 18 percent reductions in their wind premium just based on the structure of their house, without the first nail being hammered," Torres said. "When you get an insurance policy written on your house, they don't necessarily come out and do an inspection."
Get inspected
So Molloy and others encourage the inspection, whether through Safe Home, which will give advice on how to further storm-proof your residence, or through a qualified inspector who can document existing safety features and savings.
"I verify what items in the house are already existing or have already been installed — that adjusts their premium right away," Molloy said.
"Few have not saved enough in the first year to pay for the inspection," Molloy said.
"I will give them their money back," he said. "If I go to your house, and I can't help you, I'll leave."
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I imagine in other states it's nearly the same.. Something every homeowner might want to check into..
