Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. In Florida, real estate faces the perils of fire, hurricanes, floods and tornadoes. Protecting your real estate asset will require home hazard insurance and possibly flood insurance. To receive hazard insurance discounts, you may need to have your home inspector prepare a Wind Mitigation Survey and possibly a 4 Point Inspection report for the home. To receive flood insurance discounts, an Elevation Certificate may be required from your surveyor.