HOMEOWNER INSURANCE & ROOF REPAIR/DAMAGE
BY: DIANE LOTT, BROKER
PARADISE FOUND REALTY, INC.
After a rising number of homeowners had their insurance policies cancelled due to aging roofs, the Florida legislature implemented new roof requirements for homeowners in May of 2022. The new legislation updated Florida home insurance roof requirements by allowing roofs that comply with the states’ 2007 building code to be repaired, instead of replaced, even when the roof had received more than 25% damage. Insurance companies would be blocked from denying coverage because of a roof’s age if the roof is less than 15 years old. And, for roofs that are greater than 15 years old, insurers would have to allow homeowners to have an inspection on the roof’s condition before being refused coverage. If the inspection shows the roof has five or more years of useful life left, the insurance company couldn’t reject coverage simply because of roof age.
Also, part of the legislation was that the State initiated a grant program of up to $10,000 for homeowners whose property meets select criteria so they can “harden” their property against hurricane damage, namely roof and garage door damage. Funding is limited, homeowners who would like to participate are likely looking for ways to get in line now so they can be among the first recipients. If all participants qualified for the maximum $10,000 grant, then just 11,500 homeowners will qualify. That number will be higher depending on how many applicants qualify for grants under $10,000.
Main Eligibility Criteria
—Eligible properties must be located in the “wind-borne debris region” as defined under the Florida Building Code. This refers primarily to the coastal areas of the state susceptible to hurricane-force winds of 120 or greater miles per hour.
—Replacement value of homes must be $500,000 or less instead of the original limit of $300,000.
—Qualified applicants will be eligible for up to $10,000 instead of the original $5,000 limit.
—Awards of $2 for every $1 spent by homeowners will replace the original match of $1 per $1 spent.
—Properties must be homesteaded. No second homes or investor-owned properties are eligible.
—Qualifying homes must have been initially permitted for construction before January 1, 2008, one being namely a homesteaded property and that it has a value less than $500,000.
—This is currently a reimbursement grant by the State after the homeowner makes and pays for the “hardening” of the property.
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