CFO SINK ANNOUNCES MY
SAFE FLORIDA HOME FAIR
TO BE HELD IN THE FORT
LAUDERDALE AREA SATURDAY
FT. LAUDERDALE –
Florida Chief Financial
Officer Alex Sink
announced today the My
Safe Florida Home (MSFH)
program is partnering
with Broward and Palm
Beach County non-profit
organizations and
businesses to hold a
fair designed to raise
awareness about the
safety and financial
incentives of
mitigation.
The MSFH fair will take
place at the Broward
County Community College
in Coconut Creek on
November 3, 2007, from
10:00 a.m. to 4:00 p.m.
More than 50
hurricane-preparedness
exhibits will be on
display at the fair, and
all exhibits and
workshops are free to
the public. Door prizes
will include: a
generator, an emergency
radio, restaurant gift
certificates, a $100
Publix gift certificate,
garage door openers, and
a $25 Home Depot
certificate.
“We are taking the My
Safe Florida Home
program on the road to
educate Florida
homeowners about the
importance of
mitigation,” said CFO
Sink who oversees the
Department of Financial
Services. “I encourage
every homeowner in South
Florida to apply for
their free wind
inspection and see if
they are eligible for
discounts on their
windstorm insurance.”
Representatives from the
MSFH program will be on
hand to sign up eligible
homeowners for their
free wind inspections.
CFO Sink has reported
that many homeowners who
have received free wind
inspections from the
MSFH program are
eligible for discounts
on their wind insurance
premiums without making
a single improvement to
their homes. To date,
78,739 or 71 percent of
participating homeowners
are eligible for an
average discount of
$192.55 on their wind
insurance premiums,
based on the current
structure of the home
during the free MSFH
wind inspection.
Savings vary by region,
and through the program,
12,787 Broward County
residents have learned
they are eligible to
receive an average
windstorm insurance
discount of 18 percent
or $348.33 annually. In
Palm Beach County, 9,645
homeowners are eligible
to receive an average of
18 percent or $358.29 on
their windstorm
insurance. In Miami-Dade
County, 8,549 homeowners
are eligible to receive
an average of 17 percent
or $312.10 on their
windstorm insurance.
Insurance company
representatives will
also be at the fair to
assist homeowners in
understanding which
hurricane-resistance
measures will best
protect their homes and
how policyholders can
apply for discounts on
their insurance
premiums. By law,
insurance companies are
required to offer
policyholders discounts
on the wind-coverage
portion of their
homeowner policy
premiums for specific
measures that reduce
their homes’ exposure to
windstorm damage.
Homeowners are
encouraged to bring
insurance documentation
to obtain information on
possible insurance
savings through the
program.
The MSFH program resumed
offering wind
inspections and expanded
statewide this year
after conducting a pilot
program during the
previous year. Since
April 2007 the MSFH
program has performed
over 111,200 free wind
inspections. More than
13,500 homeowners have
been approved for
matching grants and are
working with the MSFH
program to harden their
homes. Statewide, the
program has issued a
grand total of more than
1,876 grants to
homeowners for more than
$6 million.
Any Floridian who lives
in a single-family,
site-built home is
eligible for a free wind
inspection through the
program. Floridians can
apply on-line at
www.MySafeFloridaHome.com
or by calling the
program toll-free at
1-866-513-6734.
Homeowners who receive
free wind inspections
through the MSFH program
will get detailed
inspection reports,
complete with additional
eligibility information
on matching grants and
estimated insurance
premium discounts, if
the homeowner is
eligible.
In order to be eligible
for the program’s
matching grant
reimbursements of up to
$5,000, the Legislature
requires that homeowners
meet the following
requirements: have
received a completed
wind inspection after
May 1, 2007; live in a
single-family,
site-built home built
before March 1, 2002;
have a valid homestead
exemption; have an
insured value of
$300,000 or less; and be
located in the
wind-borne debris
region.
Additionally, while the
free wind inspections
will still cover seven
potential
wind-resistance
improvements, matching
grants may only be
applied to opening
protections, including
windows, exterior doors
and garage doors, as
well as the bracing of
gable ends.
As a statewide elected
officer of the Florida
Cabinet, Chief Financial
Officer Alex Sink
oversees the Department
of Financial Services, a
multi-division state
agency responsible for
management of state
funds and unclaimed
property, assisting
consumers who request
information and help
related to financial
services, and
investigating financial
fraud. CFO Sink also
serves as the State Fire
Marshal.
