Citizen’s property insurance insures Florida homes against wind storm damage. In an effort to lower insurance premiums throughout the state, the 2009 Florida legislature passed a law addressing what types of homes Citizen’s could insure. The biggest change to homeowner’s on St. George Island, Apalachicola, Eastpoint and Carrabelle is that any home valued at more than $750,000 and located in a wind-borne debris region must have opening protection on all openings. This protection can be hurricane shutters, impact resistant glass conforming to hurricane code, or plywood that has been precut and predrilled for quick installation.
These notices will be sent out to all Citizen’s homeowners six months prior to their policy renewal date. It has become a point of attention when shopping for St. George Island real estate as many homes are valued at more than $750,000 and do NOT have hurricane shutters or other protection. Hurricane shutters can be electric or manual and can be quite costly to install. If you are making an offer on a home that will be required to have shutters before you can insure the home (and if you are financing the home, your bank will require insurance), then you need to factor in the cost of shutters when considering your offering price.