As Tropical Storm Fay churns up Florida, residents are boarding up and battening down their homes in an effort to protect them from damage. Here is a look at Florida’s homeowner insurance situation.

1) Get the picture
Florida has a state program called Citizens Property Insurance which is a last stop for folks who can’t get private coverage. And state officials are trying to wean people off that program because taxpayers are on the hook for the losses. And there are other problems. Big insurance companies aren’t interested in extending coverage in Florida. State Farm, Allstate and Nationwide, for example, aren’t renewing some policies in high-risk areas. And strapped homeowners are turning to new small insurance upstarts for coverage as state officials try to downsize the Citizens plan.

2) Compare rates
Florida recently unveiled a Web site that helps consumer compare insurance rates throughout the state. That Web site is shopandcomparerates.com. You’ll be able to view a sample of companies and rates for insuring a typical Florida home.

3) Remember flood insurance
Keep in mind that hurricane season doesn’t end until November 30. And make sure you have flood insurance. It’s not part of your homeowner’s policy. Even if you’re not in Fay’s path or you don’t live near a body of water, your home may still be at risk of flooding. Don’t delay if you think you need coverage. There is a waiting period of 30 days until you’re actually covered. To gauge your risk of a flood, go to floodsmart.gov.

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