Homeowners insurance reform heads to House floor
Damage from Hurricane Michael.
Provisions about attorneys fees were added in the House Commerce Committee.
Changes to homeowners’ property insurance head to the House floor after winning support in a final committee stop.
The House Commerce Committee advanced legislation (
HB 305) aimed at slowing a rapid rise in rates.
In the last stop, Rep.
Bob Rommel, the bill sponsor, introduced two significant changes. New language allows providers to offer roofing policies that don’t cover full replacement costs and instead cover the depreciated cash value of the roof. The bill as amended would also limit when courts can applier a multiplier on attorneys’ fees.