The national guide covers the core property and liability principles: indemnity, insurable interest, valuation, coinsurance, policy conditions and negligence. This page covers the Florida rules that apply across property policies: notice periods, claim deadlines, Citizens, mediation, adjusters, premium finance and rates.

Cancellation and nonrenewal (627.4133)

• Residential property (personal lines and commercial residential):
  • nonrenewal, cancellation or termination: at least 120 days' written notice, with the reason
  • renewal premium notice: 45 days ahead
  • nonpayment: 10 days
  • first 60 days, for reasons other than nonpayment: 20 days
• After 60 days, a residential policy can be canceled only for:
  • material misstatement
  • nonpayment
  • failure to meet underwriting requirements within the first 60 days
  • a substantial change in the risk
  • cancellation of an entire class of insureds
• Combined home and auto policy: may be nonrenewed for any reason that applies to either coverage, with 90 days' notice.
• Commercial P&C: 45 days' notice of nonrenewal or of the renewal premium. In the first 60 days, 20 days for reasons other than nonpayment. If notice wasn't given, coverage continues until 45 days after it is given or replacement coverage starts.
• Things that can't be the sole reason to cancel or nonrenew:
  • credit information in public records, once a residential policy is past 60 days
  • Act of God claims, unless the insured ignored the insurer's reasonable request to prevent a repeat
  • a single water damage claim, on the same condition
• Bad initial premium check: the policy is void unless the insured makes it good within the earlier of 5 days after receiving certified-mail notice or 15 days after the notice is sent.
• Renewal notices list the dollar amounts collected for Florida Hurricane Catastrophe Fund, Citizens and FIGA assessments.

Property claim deadlines (627.70131, 627.70132, 627.7142)

• The date of loss for a hurricane is the date of landfall.
• Adjusters give the insured their name and license number, and must give 48 hours' notice before an inspection (626.854(14)).
• Assignment of benefits: a post-loss assignment of benefits under a property policy issued on or after January 1, 2023 is void (627.7152(13)).
• Before suing: the claimant files a notice of intent to sue with DFS at least 10 business days before filing, and not before the insurer has made a coverage decision (627.70152).
• Reservation of rights: the insurer sends written notice of a coverage defense within 30 days after it knew or should have known of it (627.426).
• Settlements are paid within 20 days of a written agreement (627.4265).
• Liability limits: within 30 days of a claimant's written request, a liability insurer gives a sworn statement of its limits and coverage defenses, plus a copy of the policy (627.4137).
• Mediation (627.7015):
  • DFS runs a nonbinding mediation program for residential property claims. It doesn't cover auto or liability disputes.
  • The insurer pays the cost.
  • The policyholder may rescind a settlement within 3 business days unless the check has been cashed.
  • Insurers tell policyholders about mediation at issue, at renewal and when a claim is filed.

Adjusters

• Public adjusters work for the insured. Company and independent adjusters work for insurers (626.854 to 626.856).
• Public adjuster fees:
  • 10% for claims from a declared emergency made within the year after the declaration
  • 20% for other claims

Citizens Property Insurance Corporation (627.351(6))

• Citizens is the state-created insurer of last resort for residential and commercial property.
• The 20% rule: a risk is ineligible if an admitted insurer offers coverage at a premium no more than 20% higher than Citizens'. Since April 1, 2023, this also applies at renewal.
• Homes with a dwelling replacement cost of $700,000 or more are ineligible. The threshold is $1 million in counties without reasonable competition.
• Flood coverage requirements for Citizens policyholders are covered in the other personal lines guide.

Rates and premium finance

• Rates are filed with OIR and may not be excessive, inadequate or unfairly discriminatory (627.062).
• Premium finance companies need an OIR license (627.828). They give 10 days' notice before canceling for default (627.848). They may not finance auto club dues or certain other non-insurance products.

Exam traps

• Residential nonrenewal takes 120 days. Renewal premium notice: 45 days. Nonpayment: 10 days. First 60 days: 20 days.
• Claims: acknowledge in 7 days, Bill of Rights in 14, inspect within 30, pay or deny in 60.
• Report a claim within 1 year, or 18 months for a supplemental claim.
• Post-loss AOBs are void for policies issued from 2023 on.