Florida Senate - 2019 SB 550 By Senator Cruz 18-00891-19 2019550__ 1 A bill to be entitled 2 An act relating to homeowners’ insurance policies; 3 amending s. 627.7011, F.S.; providing that homeowners’ 4 insurance policies offering specified flood insurance 5 coverage may omit a portion of a specified statement 6 which relates to flood insurance; providing an 7 effective date. 8 9 Be It Enacted by the Legislature of the State of Florida: 10 11 Section 1. Subsection (4) of section 627.7011, Florida 12 Statutes, is amended to read: 13 627.7011 Homeowners’ policies; offer of replacement cost 14 coverage and law and ordinance coverage.— 15 (4)(a) Except as provided under paragraph (c), an insurer 16 that issues a homeowner’s insurance policy must include with the 17 policy documents at initial issuance and every renewal in bold 18 type no smaller than 18 points the following statement: 19 20 “LAW AND ORDINANCE: LAW AND ORDINANCE COVERAGE IS AN 21 IMPORTANT COVERAGE THAT YOU MAY WISH TO PURCHASE. 22 PLEASE DISCUSS WITH YOUR INSURANCE AGENT.” 23 24 “FLOOD INSURANCE: YOU MAY ALSO NEED TO CONSIDER THE 25 PURCHASE OF FLOOD INSURANCE. YOUR HOMEOWNER’S 26 INSURANCE POLICY DOES NOT INCLUDE COVERAGE FOR DAMAGE 27 RESULTING FROM FLOOD EVEN IF HURRICANE WINDS AND RAIN 28 CAUSED THE FLOOD TO OCCUR. WITHOUT SEPARATE FLOOD 29 INSURANCE COVERAGE, YOU MAY HAVE UNCOVERED LOSSES 30 CAUSED BY FLOOD. PLEASE DISCUSS THE NEED TO PURCHASE 31 SEPARATE FLOOD INSURANCE COVERAGE WITH YOUR INSURANCE 32 AGENT.” 33 34 (b) The intent of this subsection is to encourage 35 policyholders to purchase sufficient coverage to protect 36 themselves
themin case events excluded from the standard 37 homeowner’s homeownerspolicy, such as law and ordinance 38 enforcement and flood, combine with covered events to produce 39 damage or loss to the insured property. The intent is also to 40 encourage policyholders to discuss these issues with their 41 insurance agent. 42 (c) A homeowner’s insurance policy offering flood insurance 43 coverage that equals or exceeds the flood insurance coverage 44 offered by the National Flood Insurance Program may omit the 45 flood insurance portion of the statement under paragraph (a). 46 Section 2. This act shall take effect July 1, 2019.