Florida homeowners insurance: How to cut costs and protect your home

Florida homeowners insurance has been on the rise in the past year as more than a dozen insurance companies pull out of the state or file for liquidation.

Homeowners have been shocked to discover premiums skyrocketing to double or triple their previous rates. Many others have received cancellations, prompting an influx of customers migrating to state-backed Citizens Insurance Company.

Homeowners are now scrambling for ways to save money on their insurance premiums and find practical ways to safeguard their homes during a hurricane.

Hurricane clips for roofs are a way to kill two birds with one stone. If your roof doesn't have them already, they can help catch you up with Florida Building Code and save a hefty chunk of change.

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Hurricane clips, also known as hurricane straps or ties, are pieces of hardware designed to add reinforcement to a building's structure against strong winds and storms. These steel, corrosion-resistant devices fortify the connection between a building's roof and walls and provide essential reinforcement that prevents roofs from detaching during high winds.

While not legally required everywhere, hurricane clips are required in Florida homes built after 2001. If the home is insured for $300,000 or more, the hurricane clips also need to have three or more nails securing them.

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While the process is more straightforward and cost-effective during construction, existing roofs can be retrofitted with hurricane clips. This process may involve removing parts of the interior wall covering to expose the stud-to-rafter or truss-to-wall connection, which the clips can then reinforce.

Adding hurricane clips to your roof can lead to saving between 20% and 50% on your homeowners insurance premium, according to Kin Insurance. However, those savings will depend on your insurance company.

If you know your home doesn't already have hurricane clips, you can call your insurance company to see how much upgrading could save you.

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To receive discounts, you’ll have to get a wind mitigation inspection, which is different from a roof inspection, home inspection and a 4-point inspection. This inspection will take a look at the wind-mitigating features of your home, such as whether your roof has hurricane clips installed, if there is secondary water resistance installed and even the shape of the roof. All of these factors play into how much money homeowners can save.

Hurricanes are mind-bogglingly destructive. Their power is equivalent to a 10-megaton nuclear bomb exploding every 20 minutes, according to the National Oceanic and Atmospheric Administration. But that doesn't mean there aren't practical ways you can increase your home's storm resiliency.

FEMA has put together a helpful list of ways you can protect your home against hurricane damage, most of which won't break the bank.