{"id":6379,"date":"2022-04-01T15:07:04","date_gmt":"2022-04-01T20:07:04","guid":{"rendered":"https:\/\/nwfl4sale.com\/fla-regulator-insurers-can-offer-roof-deductibles\/"},"modified":"2022-04-01T15:07:04","modified_gmt":"2022-04-01T20:07:04","slug":"fla-regulator-insurers-can-offer-roof-deductibles","status":"publish","type":"post","link":"https:\/\/nwfl4sale.com\/fla-regulator-insurers-can-offer-roof-deductibles\/","title":{"rendered":"Fla. Regulator: Insurers Can Offer Roof Deductibles"},"content":{"rendered":"

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By Kerry Smith<\/div><\/div>\n
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A bill to make homeowners pay roof-replacement deductibles failed, but OIR says it can be an insurer option, such as lower premiums for owners willing to take a risk.<\/span><\/span><\/p>\n<\/div>\n

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TALLAHASSEE, Fla. \u2013 Florida has had a rash of insurance claims alleging damaged roofs covered under their homeowner\u2019s property insurance policy, and the 2022 Florida Legislature considered a fix that would have charged homeowners a deductible if their roof needed replacement following a covered event. However, the bill, SB 1728, passed the Senate but failed in the House.<\/span><\/span><\/p>\n

While the Florida Legislature may return to Tallahassee for a special session to discuss the state\u2019s property insurance challenges, it\u2019s generally not expected to do so before November after a new House Speaker takes over.<\/span><\/span><\/p>\n

On Wednesday, however, the Florida Office of Insurance Regulation (OIR) announced that it would allow insurers to offer roof-replacement deductibles as an option in their policies.<\/span><\/span><\/p>\n

While SB 1728 would have made the roof deduction mandatory for all state policy holders, OIR will make it an option insurers will offer if they\u2019re approved to do so. It would likely be something in the form of a premium reduction for homeowners willing to take a risk and hope that their roof won\u2019t be damaged in a future storm.<\/span><\/span><\/p>\n

\u201cThat will give companies more latitude,\u201d William Stander, director of the Florida Property & Casualty Association, told the Insurance Journal. \u201cWe\u2019re glad to see OIR moving forward on this.\u201d<\/span><\/span><\/p>\n

It\u2019s unclear how much OIR\u2019s new option might change the Florida property insurance market, however, since it largely depends on the number of homeowners willing to choose the option.<\/span><\/span><\/p>\n

Source: 2022 Insurance Journal, William Rabb<\/span><\/span><\/p>\n

\u00a9 2022 Florida Realtors\u00ae<\/span><\/span><\/p>\n<\/div><\/div>\n

Go to Source<\/a>
\nAuthor: kerrys<\/p>\n","protected":false},"excerpt":{"rendered":"

By Kerry Smith A bill to make homeowners pay roof-replacement deductibles failed, but OIR says it can be an insurer option, such as lower premiums for owners willing to take a risk. TALLAHASSEE, Fla. \u2013 Florida has had a rash of insurance claims alleging damaged roofs covered under their homeowner\u2019s property insurance policy, and the 2022 Florida Legislature considered a fix that would have charged homeowners a deductible if their roof needed replacement following a covered event. However, the bill, SB 1728, passed the Senate but failed in the House. While the Florida Legislature may return to Tallahassee for a special session to discuss the state\u2019s property insurance challenges, it\u2019s generally not expected to do so before November after a new House Speaker takes over. On Wednesday, however, the Florida Office of Insurance Regulation (OIR) announced that it would allow insurers to offer roof-replacement deductibles as an option in their policies. While SB 1728 would have made the roof deduction mandatory for all state policy holders, OIR will make it an option insurers will offer if they\u2019re approved to do so. It would likely be something in the form of a premium reduction for homeowners willing to take a risk and hope that their roof won\u2019t be damaged in a future storm. \u201cThat will give companies more latitude,\u201d William Stander, director of the Florida Property & Casualty Association, told the Insurance Journal. \u201cWe\u2019re glad to see OIR moving forward on this.\u201d It\u2019s unclear how much OIR\u2019s new option might change the Florida property insurance market, however, since it largely depends on the number of homeowners willing to choose the option. Source: 2022 Insurance Journal, William Rabb \u00a9 2022 Florida Realtors\u00ae Go to Source Author: kerrys<\/p>\n","protected":false},"author":4,"featured_media":6380,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/6379"}],"collection":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/comments?post=6379"}],"version-history":[{"count":0,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/posts\/6379\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media\/6380"}],"wp:attachment":[{"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/media?parent=6379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/categories?post=6379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nwfl4sale.com\/wp-json\/wp\/v2\/tags?post=6379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}