Happy Hurricane Season! Said no one ever.


According to the NOAA (National Oceanic and Atmospheric Administration), there are twelve to seventeen anticipated named storms during the 2023 Hurricane Season, which runs from June 1st through November 30th. Five to nine of those are expected to be hurricanes, with one to four being major hurricanes (Category 3 or higher). Once a storm is named, insurance companies can and will suspend binding coverage as the storm approaches and will continue to suspend coverage following a storm hitting land.

The suspension of coverage can affect home buyers who don’t get coverage early. Without adequate home insurance, closing dates can be pushed back until companies end the suspension. Use these tips throughout storm season to prevent delays for you and your home buyers:

  1. Encourage buyers to purchase their coverage early. There is no reason to not start the insurance process as soon as possible. This is important any time of year with the current state of property insurance in Florida but especially during hurricane season.
  2. Connect the mortgage company and insurance agent early in the process. Most buyers rely heavily on whatever their mortgage company requires and what their insurance advisor recommends so making the connection between those two parts of the transaction early on is sure to help things run smoothly.
  3. If a storm is approaching and insurance is not in place, encourage your buyer to call an insurance advisor as soon as possible. The policy must be bound with an effective date to avoid being held up by the binding suspension. Just because they’ve received a quote, does not mean it can’t be suspended.

We can’t stress enough, more so than ever before with the state of our insurance and reinsurance markets, to start the process early. Please share this information with your clients and let us know if we can help in any way. Let’s all hope for an uneventful season but were here if you need us.