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CONDO INSURANCE LAW UPDATE

10:43 PM, Posted by Editorial Staff, No Comment

Many condo owners have asked, "Is the Legislature going to repeal the law requiring condo owners to provide proof of hazard and liability insurance"? Although it appears to be moving in that direction, there are no guarantees.

Right now the law states associations shall require each owner to provide evidence of a currently effective policy upon request, but not more than once per year. If a unit owner fails to acquire the insurance or provide proof within 30 days after delivery of a written request from the association, it may purchase a policy on behalf of an owner. That money may then be collected from the owner, like an assessment.

Bills to repeal those requirements have been filed by Rep. Ellyn Bogdanoff, R-Fort Lauderdale, and Sen. Dennis Jones, R-Seminole. Bogdanoff admits she is not sure that is what ultimately should be done. "There seems to be a lot of push back from unit owners about mandatory insurance," she said. "I have real concerns about a complete repeal, but it's important to stir the debate and start the conversation."

In the meantime, she says, keep in mind the law does not require associations to enforce this law. But she knows some attorneys are advising associations to act or face possible liability lawsuits.

Her suggested compromise: Pass a law that allows unit owners to vote on whether to require the insurance and make sure those communities that vote no cannot be held liable. "And if you have 100 units and 99 owners vote yes, the one unit owner should not be able to compromise the rest."

Bogdanoff also says she believes it is likely Florida legislators will repeal the requirement to name an association as an additional insured entity.

What do you think should be done? Please send your comments to:
The Condo Communicator
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