FL S0774

Deletes the requirement that mortgageholders or lienholders must approve a policyholder's decision to exclude windstorm coverage from residential property insurance policies.

Requires insurers to notify mortgageholders or lienholders when a policy does not provide wind coverage, even without their prior approval.

Maintains existing requirements that policyholders must provide a handwritten statement personally signed by all named insureds to exclude windstorm coverage.

Applies to residential property insurance policies issued by private insurers, with exceptions for certain Citizens Property Insurance Corporation-eligible risks and coastal account properties.

Takes effect July 1, 2014.