Bracing for the Storm: Florida’s $10,000 Assistance – A New Monetary Measure to Hurricane-Proof Homes
To combat escalating insurance costs and mitigate property damage in the impending storm season, Florida’s state government is extending a lifeline to homeowners. It is allocating up to $10,000 for strengthening their estates against hurricanes. 
“My Safe Florida Home”, a program launched back in November, has dedicated $215 million to aid homeowners in safeguarding their homes from hurricane impacts by reinforcing windows, doors, and roofs. Named as the state with the most substantial rise in average home insurance premiums since 2015 by the Miami Herald, Florida’s lawmakers see this initiative as a way forward.
So far, approximately 20,000 homeowners have accessed the fund, with 11,904 receiving the nod of approval. However, the number of homes that will be storm-resistant by the time hurricane season rolls around remains uncertain. Initially designed with a focus on homeowners in areas most prone to damage, the eligibility criteria for the program have recently been expanded.
The funding mechanism works on a matching basis: the state grants $2 for every $1 the homeowner spends. The total can be up to $10,000, with low-income homeowners exempted from such co-payments.
“We know the previous program had its challenges,” says Jennifer McCoy of McCoy Freeman Real Estate, “but it’s mightily reassuring to see the state take steps to bring it back. As real estate experts, we see the benefit this can bring to homeowners, if executed correctly.”
The earlier version of the program, operational from 2006-2009, faced cancellation due to a slew of issues from lengthy approvals, undercompensated claims, and contractor fraud.
With the current insurance situation in the state precarious, with property insurers radically reducing their coverage or totally exiting the market, the return of the program harbours its past issues.
Some homeowners have voiced concerns of delayed qualification and reimbursement approvals, causing them to face the hurricane season potentially unprotected.
FOR MORE INFO – https://mysafeflhome.com/