With its humid subtropical climate, Central Florida businesses—especially those along the Gulf Coast—are in a constant battle against damaging tropical storm winds, hurricanes, and even tornadoes. These relentless forces, which typically unleash their fury during the summer and fall, can damage buildings and disrupt business operations. This stark reality underscores a need for wind coverage.
What Is Wind Coverage and Is It Required in Florida?
Wind coverage is a specific type of insurance that protects a commercial property from damage directly caused by windstorms, tornadoes, or hurricanes. It is often separate from standard commercial property insurance, especially in high-risk coastal areas of Florida. While the Sunshine State does not legally mandate this coverage, it is almost always required by lenders as a condition for a mortgage. Without it, a business could face devastating financial losses during a wind-related event.
It’s essential to understand that a standard commercial property insurance policy may exclude or limit coverage for wind-related damage. In Florida’s high-risk zones, a business owner typically must purchase a separate windstorm policy or a windstorm endorsement to their existing policy to ensure they are fully protected. It is essential coverage for coastal businesses, as a storm’s wind can cause extensive damage to roofs, windows, and the structure itself. A separate flood insurance policy is necessary for damage claims from rising water. Does your commercial policy currently provide wind coverage? Just give us a call, and our licensed agents will be happy to review your insurance policy.
Benefits of Adding Wind Coverage to Your Commercial Policy:
Ensuring your business has adequate wind coverage is invaluable, but the practical benefits are what truly make it a necessity in Southwest Florida.
- Protects Your Physical Assets: Wind coverage safeguards your commercial building, outbuildings, and signage from storm-related damage.
- Covers Your Business Personal Property: It also protects the contents of your building, including your inventory, equipment, furniture, and fixtures.
- Provides for Business Continuity: If your business must close temporarily due to wind damage, a good policy can include coverage for lost income and extra expenses, helping you stay afloat during the recovery period.
How Much Does Windstorm Insurance Cost?
The cost of windstorm insurance is highly variable and depends on several factors specific to your property:
- Location: Proximity of your business to the coast is a key factor.
- Construction: The age and type of construction also play a significant role in determining premiums. Whether the building has modern wind-mitigation features, such as hurricane-rated windows, roof strapping, or hurricane shutters, is another consideration.
- Deductibles: Windstorm policies often have a percentage-based deductible (e.g., 2% or 5% of the policy limit) rather than a flat dollar amount, which can significantly affect your out-of-pocket costs after a claim.
Commercial Wind Coverage for Property Owners on Florida’s Gulf Coast
Commercial Insurance Specialists is a Trusted Choice independent agency, a designation that signifies our commitment to providing excellent service and a wide range of insurance options. As a Trusted Choice agency, we have the freedom to shop around and compare wind coverage from multiple top-rated insurers, ensuring that you get the best rates and property coverage options for your business. We serve clients in many professions, including landscapers, plumbers, and HVAC contractors from Bradenton to Lakeland, including Spring Hill, Clermont, St. Pete, Sarasota, and surrounding west and central Florida communities.
Contact us today for a free, no-obligation commercial property insurance quote!
