Two bills currently being debated in the Florida House and Senate are concerning for consumers, but they should also be sounding an alarm for the roofing industry. Both bills have sparked controversy within the industry. As the Florida Legislative session began, Senate Bill 76 and House Bill 305 were essentially companion bills. However, the House bill has undergone recent revisions that have altered some of its focus.
SB 76 would permit insurers to provide homeowners insurance policies that reduce coverage on roofs 10 years old or older based on the type of roof. The applicable roof surface reimbursement schedule would provide substantially lower coverage for shingle roofs, as low as 25% of the replacement cost value. In the aftermath of a hurricane, tornado, or other devastating weather event, homeowners would be required to pay out thousands of dollars to fix their roofs, with the fundamental goal of making their homes livable again.