Information on Hurricane Insurance in Florida – part three
The 2004 hurricane season also left a deep impact on the insurance sector. The year saw hurricanes Charley, Frances, Ivan and Jeanne caused the insurers damage of around $25 billion in the state of Florida. It made the insurers realize that they are at risk not just from one large catastrophic hurricane but several medium-sized hurricanes occurring together. Also, the insurance industry based its premiums on the direction in which the hurricanes would come from; the assumption was that the high-risk areas were those that lay in the path of hurricanes from the Atlantic Ocean, the events of 2004 showed that even mid-sized hurricanes originating in the Gulf of Mexico can cause a lot of cumulative damage.
Insurers were still reeling from the impact of the 2004 hurricane season when Hurricanes Katrina and Wilma struck the next year; the two category five hurricanes so soon after the hurricanes of 2004 meant that there was no trusting historical data which suggested that big hurricanes do not occur frequently. This information had to be factored into the risk assessment for people living in counties most exposed to hurricanes. The result was that insurance companies once again shrunk the amount of cover and increased their premiums. One can gauge the condition and stress placed on home owners when we see that the average premium doubled from 723$ in 2002 to 1465$ in 2007.
The Florida government came up with the FHCF to support the private insurance companies; in the absence of such a body the insurance companies would have probably increased the insurance premiums even more and put many families unable to afford the premiums at severe risk. The FHCF mandated that all property insurance dealers covering risks greater that $10 million will participate in the FHCF fund. There is a minimum amount that the insurance companies are expected to cover in the first round of claim payments every year, if the claim payments exceed the minimum the FHCF may try to cover a fraction of the payment.
The recession is making it difficult for organizations like FHCF to raise money should its present funds be inadequate in the face of a future major hurricane in the time to come.
The Citizens Property Insurance Corporation was formed in 2002 and its objective was to cover not just wind damage but also provide multi-peril property insurance. Today it is the largest property insurer in Florida.
Larry A. - March - 2019 - San Diego, California I am writing this email to say Thank You to everyone at Empire. I have just finished installing the rolling and accoridon shutters you shipped to me on order 26692.The quality of your product is excellent, and your delivery was shorter than expected. The care that was taken by the people that packaged my shutters is above and beyond, and greatly appreciated. The patience Michael Joiner and his sales team showed me over the weeks I was debating what kind of shutters to by, and from whom, was also greatly appreciated. I would be happy to be a reference here on the West Coast if you should ever want one. -Larry
Mark P. - February - 2019 - St. Croix. U.S. Virgin Islands Thanks Empire Construction! Job well done with no issues. I really appreciate purchasing your products. I'm also looking forward to doing more business with you guys in the future. You guys are the best!!
Judy S. – January – 2019 - Cocoa Beach, Florida
Thanks so much for all your help!! My husband is thrilled with the Rolling Shutters and they look great.
Guven Y. – January – 2019 – Malabar, Florida
Thank you very much for everything. All of the Bahama Shutters have been hung and they all look great! They are very quality work and I am getting a lot of inquiries about them.Thanks again.
Gerald B – December – 2018 - Mattapoisett, Massachusetts
The Rolling Shutters are up and running and fit perfectly. They appear to be a very high quality product.
Jan T – November – 2018 – Ponte Vedra Beach, Florida Barbara,I just wanted to tell you the storm panels went up very nicely and you sent me all the proper panels. I'll be ordering the panels for the rest of the house after the holidays. Thank you again for your assistance and it was a pleasure working with you.
Mike G. - October - 2018 - Port Charlotte, Florida
Excellent Product! Thank you Ryan. Please pass my thanks along to Bill and the rest of the team as well. I am really impressed with the system we received. Thank you all for continuing that quality product with good support.
Robert H. - September - 2018 - Beaufort, South Carolina
My Accordion Shutters are up! The windows took about 1.5 hours each. The shutters all fit very nicely, the material and finish is excellent, and they look very good. They are not intrusive at all. I am pleased, my wife is pleased ( you know that is important) and my neighbor, who helped me was impressed based upon his window/door experience. Good job! Thanks.
Marcus J. - August - 2018 - St. John, U.S Virgin Islands Hello everyone at Empire, Marcus from St. John here. This project is being done by me and 1 helper, and we're going back much stronger, with many more tap cons, and wedge anchors than the original installers had done. Your rolling shutters are amazing, great quality and workmanship. Everything is going great so far!
David G. - July - 2018 - Sarasota, Florida
We wanted to self-install so we bought accordions and roll downs from Empire Construction.We measured our window and patio and sent Empire the specs.The shutters were an exact match.Installation is very doable for two reasonably mechanical people. In this case it was only one mechanical person and some extra hands. The accordions were a breeze as installation was mostly marking holes for spots, drilling holes, and screwing them in.Our accordions have locking pins that hold them open and act as a second lock when closed. Even if a projectile breaks the lock the rods will keep the shutters closed.These shutters are Bertha HV1. They are High Velocity Hurricane Zone Approved. Having seen a wide range of shutters we are extremely happy with the quality of the product we received!!
Jim J. - June - 2018 - Homestead , Florida
I installed fourteen aluminum accordion shutters which I purchased from Empire Construction.I could not be happier with my choice.The shutters are made very well and are powder-coated.The purchase included all of the required hardware which was powder-coated to match the shutters.The company is very customer-oriented.Michael and his staff were wonderful.They were attentive, helpful, and a delight to work with.The installation video on the website made the installation very easy.I highly recommend Empire Construction to anyone considering a purchase of hurricane shutters. Thanks again. Please say Hi to everyone,
Steffan L. - May - 2018 - St. Croix, US Virgin Islands, Florida
I picked up my shipment today at Paradise freight here on St Croix. Your shipping (and your products) deserves the highest rating. Thanks for excellent service..