In 2022 alone, losses from weather and climate disaster events totaled more than $1 billion. We’ve seen some devastating hurricanes this year, including Ian and Nicole.
Florida homeowners would be wise to invest in hurricane preparedness, and buying a generator might be an excellent idea. You can stay up and running even in the worst storms, and it may even increase the value of your home.
If you’re considering it, you should know whether they make sense for your situation. Here are some of the pros and cons.
Helps You Prepare for the Weather
Although we can predict certain aspects of the weather, including possible hurricane paths, we can never control or fully predict nature. We may see a hurricane coming days or weeks in advance, but we won’t know how strong it will be once it makes landfall or what damage it will cause until much later.
Many people underestimate storms and severe weather events. It’s always smart to prepare for the worst, even if it ends up not being necessary.
One of the best ways to prepare for hurricane season is by purchasing a generator, especially if you’re in a high-risk area. Of course, you need to consider the options.
There are many types of generators, from portable ones suited to short-term use to whole-house models. For the purpose of the article, we’re focusing on whole-home generators, as they offer the biggest advantages.
A standby generator connects to an existing gas line, which means you don’t have to worry about constantly refilling it. The larger size and capacity also allow you to power much more, from lights and AC to electronics.
It Can Save You Money
Purchasing generators for houses is no small investment, but buying one can also save you money.
One of the first concerns that homeowners have when the power goes out is how long the food will last in the fridge. During a power outage, you must keep the fridge and freezer doors closed as much as possible. Food will remain safe for four hours in the fridge and between 24-48 hours in a freezer.
Unfortunately, a bad storm can knock out the power for much longer than that. Food spoilage can cost homeowners hundreds of dollars. Using a generator keeps your fridge running and protects your food from going bad.
Another way using a generator can save you money is that it allows you to work from home. Whether you work remotely or your office is currently using a remote system due to the storm, you can continue to keep up with all your tasks. If you’re a small business owner, this is invaluable.
You’ll Stay Cool and Comfortable
We’re all familiar with the Florida heat and humidity. Even a few hours without air conditioning or fans in the sweltering summer months can be uncomfortable.
In some instances, it may even be dangerous. Heat-related illnesses such as heat stroke become a real problem in an outage.
However, a generator kicks on as soon as the power goes out. You and your family will remain cool and comfortable inside.
Works Even When You’re Not There
You don’t have to be at home for a standby generator to kick on. Whether you leave your house to go to work, buy supplies, or you’re not in town, you can rest easy knowing your property is protected. It’s an excellent investment if your Florida home is your seasonal escape and you’re not there all the time.
A whole-house generator keeps your security systems working and your food safe. You also don’t have to worry about damage to your electrical devices.
Increases the Value of Your Home
Installing a whole-house generator can even increase your home’s value. Your house may be one of the few on the block with lights and electricity. You may sell your property in the future and benefit from a nice return on your investment.
Homes in areas prone to storms and flooding, such as here in Florida, benefit even more. Buyers may be willing to spend more to secure a house with that added security.
Possible Cons of Buying a Generator
There are a few downsides to buying a generator that you must consider. For one, you’ll need the system installed by a professional.
This is not a DIY job, as you’ll require the skills of a licensed electrician as well as a plumber to connect the generator to your existing gas line. Also, you’ll need to get permits.
Generators create noise, and some states have laws on how much noise a generator can produce. Be sure to read up on this information before installing one.
Generator prices vary depending on how much you want to power around the home. Homes with fewer electrical demands will use a smaller generator, while large homes with multiple rooms require a more powerful machine.
In general, installing a whole-house generator can cost anywhere from $5,000 to $25,000. Keep this in mind when deciding whether it’s the right move for you. We recommend getting a few quotes before making a decision.
How Do Generators Affect Insurance?
If you purchase an automatic standby generator, you may receive a discount on your homeowner’s premium. You’re taking measures to keep your home safer, and it may help to reduce claims.
One advantage of purchasing a whole-house generator is that it will keep important medical equipment powered. If you or a loved one rely on any medical devices, you need electricity to keep them running.
Homeowners insurance may cover your generator, depending on how it sustains damage. If it’s damaged by lightning or a hurricane, it’s usually covered. That said, you must keep up with regular maintenance.
Talk with your insurer to find out more about what a homeowner’s policy covers.
Keep the Power Running
Is buying a generator the right choice? It depends on whether you’re looking for a quick return on your investment or if you want a way to protect your home. An automatic standby generator is a big investment, but it does offer additional peace of mind and can increase the value of your home.
Here at Harris Insurance, we offer affordable coverage to Florida residents all over the state. If you’re in the market for insurance or you have questions about covering a generator, send us a message to get a quote.
LEGAL DISCLAIMER
Views expressed here do not constitute legal advice. The information contained herein is for general guidance of matter only and not for the purpose of providing legal advice. Discussion of insurance policy language is descriptive only. Every policy has different policy language. Coverage afforded under any insurance policy issued is subject to individual policy terms and conditions. Please refer to your policy for the actual language.
