Title: Homeowners' Insurance Policies

Summary: Providing that homeowners' insurance policies offering specified flood insurance coverage may omit a portion of a specified statement which relates to flood insurance, etc.

Full Text:
An act relating to homeowners  insurance policies; amending s. 627.7011, F.S.; providing that homeowners  insurance policies offering specified flood insurance coverage may omit a portion of a specified statement which relates to flood insurance; providing an effective date. Be It Enacted by the Legislature of the State of Florida: Section 1. Subsection (4) of section 627.7011, Florida Statutes, is amended to read: 627.7011 Homeowners  policies; offer of replacement cost coverage and law and ordinance coverage.  (4) (a)  Except as provided under paragraph (c), an insurer that issues a homeowner s insurance policy must include with the policy documents at initial issuance and every renewal in bold type no smaller than points the following statement:  LAW AND ORDINANCE: LAW AND ORDINANCE COVERAGE IS AN IMPORTANT COVERAGE THAT YOU MAY WISH TO PURCHASE. PLEASE DISCUSS WITH YOUR INSURANCE AGENT.   FLOOD INSURANCE: YOU MAY ALSO NEED TO CONSIDER THE PURCHASE OF FLOOD INSURANCE. YOUR HOMEOWNER S INSURANCE POLICY DOES NOT INCLUDE COVERAGE FOR DAMAGE RESULTING FROM FLOOD EVEN IF HURRICANE WINDS AND RAIN CAUSED THE FLOOD TO OCCUR. WITHOUT SEPARATE FLOOD INSURANCE COVERAGE, YOU MAY HAVE UNCOVERED LOSSES CAUSED BY FLOOD. PLEASE DISCUSS THE NEED TO PURCHASE SEPARATE FLOOD INSURANCE COVERAGE WITH YOUR INSURANCE AGENT.  (b)  The intent of this subsection is to encourage policyholders to purchase sufficient coverage to protect themselves them in case events excluded from the standard homeowner s homeowners policy, such as law and ordinance enforcement and flood, combine with covered events to produce damage or loss to the insured property. The intent is also to encourage policyholders to discuss these issues with their insurance agent. (c)  A homeowner s insurance policy offering flood insurance coverage that equals or exceeds the flood insurance coverage offered by the National Flood Insurance Program may omit the flood insurance portion of the statement under paragraph (a). Section 2. This act shall take effect July 1, 2019.