HOW MUCH WILL A WIND MITIGATION INSPECTION COST?
This fee will also include an update on your report if need be within a specified period. Thankfully, in most cases, the costs of your inspection will be recouped in the discounts on your insurance premiums. The price of a wind mitigation inspection is lower if you get it at the same time as your buyer’s home inspection. This is because you will have to cut down on the travel costs of the inspector.
WHAT IS THE WIND MITIGATION CREDIT?
The wind mitigation credit is based on the findings of your inspection. These credits are meant for insurance discounts on your homeowners’ insurance. The credits are based on how many aspects of the inspection your home will pass or fail. In general, if your home can hold up well to strong winds, you get more credits.
You will benefit from a higher insurance premium discount if you have higher credits. The discount ranges from 20-70%. Insurers will exclude wind damage from their standard homeowner's insurance policies in some hurricane and tornado-prone areas. In other cases, they need a separate wind deductible on your policy. Check these elements to ensure you have wind coverage.
WHAT STATES HAVE WIND MITIGATION CREDITS?
A few states have wind mitigation laws under their insurance regulation offices. The laws mandate insurers to give homeowners who have a wind mitigation report credits or discounts. The states with wind mitigation credits include Georgia, Mississippi, Alabama, Oklahoma, North Carolina, Rhode Island, Florida, and Louisiana.
One Last Thought to Consider
A wind mitigation inspection will take 30-60 minutes to complete, so you do not have to cancel your plans to host the inspector for the day. Most inspection firms will send you the report within 24 hours. The wind mitigation report is valid for five years. With your questions on the cost and other aspects of the inspection now answered, you can schedule one for your home.