September 19, 2020
Print This PagePrint This Page

  *
Session:
Bill #:
Session:
Chamber: View Search Tips
Search Term:
Year: View Search Tips
Search Term:
521911
 (LATE FILED)Amendment
Bill No. 1937
Amendment No. 521911
CHAMBER ACTION
Senate House
.
.
.






1Representative(s) Ross offered the following:
2
3     Amendment (with title amendment)
4     Between lines 918 and 919, insert:
5     Section 8.  Effective October 1, 2005, subsection (1) of
6section 627.7011, Florida Statutes, is amended, and subsection
7(4) is added to said section, to read:
8     627.7011  Homeowners' policies; offer of replacement cost
9coverage and law and ordinance coverage.--
10     (1)  Prior to issuing a homeowner's insurance policy on or
11after October 1, 2005 June 1, 1994, or prior to the first
12renewal of a homeowner's insurance policy on or after October 1,
132005 June 1, 1994, the insurer must offer each of the following:
14     (a)  A policy or endorsement providing that any loss which
15is repaired or replaced will be adjusted on the basis of
16replacement costs not exceeding policy limits as to the
17dwelling, rather than actual cash value, but not including costs
18necessary to meet applicable laws and ordinances regulating the
19construction, use, or repair of any property or requiring the
20tearing down of any property, including the costs of removing
21debris.
22     (b)  A policy or endorsement providing that, subject to
23other policy provisions, any loss which is repaired or replaced
24at any location will be adjusted on the basis of replacement
25costs not exceeding policy limits as to the dwelling, rather
26than actual cash value, and also including costs necessary to
27meet applicable laws and ordinances regulating the construction,
28use, or repair of any property or requiring the tearing down of
29any property, including the costs of removing debris; however,
30such additional costs necessary to meet applicable laws and
31ordinances may be limited to either 25 percent or 50 percent of
32the dwelling limit, as selected by the policyholder, and such
33coverage shall apply only to repairs of the damaged portion of
34the structure unless the total damage to the structure exceeds
3550 percent of the replacement cost of the structure.
36
37An insurer is not required to make the offers required by this
38subsection with respect to the issuance or renewal of a
39homeowner's policy that contains the provisions specified in
40paragraph (b) for law and ordinance coverage limited to 25
41percent of the dwelling limit, except that the insurer must
42offer the law and ordinance coverage limited to 50 percent of
43the dwelling limit. This subsection does not prohibit the offer
44of a guaranteed replacement cost policy.
45     (4)  Any homeowner's insurance policy issued or renewed on
46or after October 1, 2005, must include in bold type no smaller
47than 18 points the following statement:
48"LAW AND ORDINANCE COVERAGE IS AN IMPORTANT COVERAGE THAT
49YOU MAY WISH TO PURCHASE. YOU MAY ALSO NEED TO CONSIDER
50THE PURCHASE OF FLOOD INSURANCE FROM THE NATIONAL FLOOD
51INSURANCE PROGRAM. WITHOUT THIS COVERAGE, YOU MAY HAVE
52UNCOVERED LOSSES. PLEASE DISCUSS THESE COVERAGES WITH
53YOUR INSURANCE AGENT."
54The intent of this subsection is to encourage policyholders to
55purchase sufficient coverage to protect them in case events
56excluded from the standard homeowners policy, such as law and
57ordinance enforcement and flood, combine with covered events to
58produce damage or loss to the insured property. The intent is
59also to encourage policyholders to discuss these issues with
60their insurance agent.
61
62================ T I T L E  A M E N D M E N T =============
63     Remove line 48 and insert:
64disapproval of certain forms; amending s. 627.7011, F.S.;
65requiring insurers to offer coverage for additional costs of
66repair due to laws and ordinances; requiring certain homeowner's
67insurance policies to contain a specified statement; providing
68intent; amending s. 627.7015, F.S.;


CODING: Words stricken are deletions; words underlined are additions.
Site Map
Session:   Bills ·   Calendars ·   Bound Journals ·   Citator ·   Search ·   Appropriations ·   Redistricting ·   Bill Information Reports
Committee Publications
Historical Information
Statutes:   Introduction ·   View Statutes ·   Search Statutes
Flsenate.gov
Disclaimer: The information on this system is unverified. The journals or printed bills of the respective chambers should be consulted for official purposes.    Copyright © 2000-2020 State of Florida.     Privacy Statement     Contact Us     Get Acrobat Reader