FL H1073

In counties where the Office of Insurance Regulation determines there is not a reasonable degree of competition, the dwelling replacement cost eligibility cap for Citizens Property Insurance coverage is raised from $1 million to $1.5 million for personal lines residential structures.

In those same non-competitive counties, Citizens must annually implement a rate increase capped at 10 percent per single policy, excluding coverage changes and surcharges, rather than the standard statewide caps of 12–15 percent.

Flood insurance purchase requirements are exempted for three additional categories of Citizens policies: policies that do not cover wind peril, policies under a condominium unit owners form, and policies covering properties in FEMA-designated Zone X or structures elevated at least 1 foot above the minimum base flood elevation.

The bill amends section 627.351, Florida Statutes, and takes effect July 1, 2025.