What is the new roof law in Florida?
A new Florida law now states that in the event of a storm, if more than 25% of the roof is damaged, the insurance company can determine whether to repair or replace the roof. This allows insurance companies to take the most cost-effective route, which results in savings they can pass on to their customers.
Can you insure a 15 year old roof in Florida?
If your roof is 15+ years old you do have an option through the State of Florida Insurer… Citizens. Citizens Insurance is the state funded insurance company designed to help homeowners find insurance when no private market is able to help. They are referred to as “The Company of Last Resort”.
Can you insure a 15 year old roof in Florida?
If your roof is 15+ years old you do have an option through the State of Florida Insurer… Citizens. Citizens Insurance is the state funded insurance company designed to help homeowners find insurance when no private market is able to help. They are referred to as “The Company of Last Resort”.
What is the new insurance law in Florida?
Ron DeSantis has signed into a law sweeping property insurance legislation that creates a $2 billion reinsurance fund and rewrites rules on coverage denials and attorney fees in a move to stabilize rising costs and insurer losses. May 26, 2022, at 6:47 p.m.
Can you get homeowners insurance with a 20 year old roof in Florida?
Some insurers refuse to renew existing homeowner insurance policies on houses with roofs older than 20 years unless they pass a professional roof inspection. Insurers will not renew a policy that fails inspection without a roof replacement.
Can I get homeowners insurance with an old roof in Florida?
And for roofs that are older than 15 years, insurers would have to allow homeowners to have an inspection on the roof's condition before refusing coverage. If the inspection shows the roof has five or more years of useful life left, the insurance company could not reject coverage simply because of age.”