When storms strike, homeowners can be left with severely damaged homes. Insurers can help policyholders prevent destructive damage through greater incentives for wind mitigation while offering coverage for wind damages.
WaterStreet Company’s P&C Insurance Solutions allow carriers to access all the data they need to form predictions on where these costs are headed.
What is Wind Mitigation?
Wind mitigation is the process of assessing and improving a structure’s ability to withstand high winds, such as those caused by hurricanes, tornadoes, and other severe weather events.
In areas that are prone to strong winds, wind mitigation is an essential aspect of building and home ownership, as it helps to reduce damage and protect people’s lives and property. In recent decades, the frequency of tornadoes has shifted to southeastern locations of the United States, calling for closer attention to wind mitigation and wind coverages in states such as Alabama, Georgia and South Carolina.
How Does Wind Mitigation Work?
The process of wind mitigation typically involves a detailed inspection of a building’s structural elements, including the roof, walls, windows, doors, and foundation. The inspector will assess the quality and condition of these areas of the home and identify any weaknesses or vulnerabilities that could be exploited by high winds.
The inspector then provides recommendations to the homeowner for improving the structure’s wind resistance. These recommendations may include:
- Hurricane straps for the roof
- Impact-resistant windows and doors
- Reinforced walls and foundation
- Improved ventilation system to reduce the risk of wind pressure buildup
Why Invest in Wind Mitigation?
Insurers can benefit from homeowners who seek wind mitigation measures as these precautions could prevent claims down the line. There are several benefits to both the insurer and the insured by investing in wind mitigation measures:
1. Reduce Claims Costs
Wind mitigation can significantly reduce the risk of damage and loss of property during high wind events. This can result in lower insurance premiums and deductibles, as insurers may offer discounts for homes and buildings that are better protected against wind damage. The total claims cost after a destructive storm is also likely to be less than if mind mitigation was not completed.
2. Improve Energy Efficiency
Wind mitigation measures can also improve the energy efficiency of a structure. By improving ventilation and reducing the risk of air leaks, the building can maintain a more consistent temperature and require less heating and cooling. This can lead to lower utility bills and a more comfortable living or working environment.
3. Meet Local Regulations
Wind mitigation measures may also be required by local building codes and regulations. For example, in areas that are prone to hurricanes, building codes may require that homes and buildings meet specific wind resistance standards to ensure the safety of occupants.
It is important to note that wind mitigation is not a one-time process. As buildings age and weather conditions change, their ability to withstand high winds may diminish. Therefore, it is recommended that homeowners and building owners have their structures inspected and updated on a regular basis to ensure that they remain protected against wind damage.
WaterStreet Company & Wind Mitigation
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