Four bills filed late Friday would create a new fund in which insurers can purchase insurance to help insulate them from risk. The bills also would allow homeowners with roofs 15 years or older to get an inspection before insurers deny them coverage.
The News4JAX I-TEAM found Florida homeowners' insurance is skyrocketing because of roof repair claims.– Legislation proposed by Florida lawmakers for an upcoming special session to reform the state's property insurance market would create a $2 billion reinsurance fund and prohibit insurers from automatically denying coverage to homeowners' with older roofs.
If a roof is more than 25% damaged but already complies with the state's 2007 building code, it would only have to be repaired instead of replaced under an exemption to the building code that the proposed legislation creates. One of the measures also would provide grants worth up to $10,000 each to retrofit homes so they are less vulnerable to hurricane damage.
Florida Chief Financial Officer Jimmy Patronis, said in an interview that the state last year accounted for 9% of all claims filed nationally but nearly 80% of all the property insurance lawsuits.
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