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FL S1430
Bill
AI Summary
- Amends homeowner's insurance law to require insurers to offer three coverage options instead of two before issuing a policy
- Adds a new coverage option providing actual cash value adjustment for losses, rather than replacement costs
- Maintains existing options for replacement cost coverage without law and ordinance costs, and replacement cost coverage with law and ordinance costs (limited to 25 or 50 percent of dwelling limit)
- Clarifies that insurers are not required to offer the 25 percent law and ordinance option but must offer the 50 percent option
- Effective date: July 1, 2013
Legislative Description
Homeowner's Insurance
Last Action
Died in Banking and Insurance
5/3/2013
Committee Referrals
Banking and Insurance3/7/2013
Full Bill Text
No bill text available