The House has approved legislation seeking to give homeowners greater insight into their insurance policies and rate changes.
Naples Republican Rep. Yvette Benarroch filed the bill (HB 767), which would require regulators to publish detailed rate data online to help consumers better understand Florida’s residential property insurance market.
The measure would direct the Office of Insurance Regulation to create an online resource center for residential property insurance consumers. The site must include reports outlining market trends, tools that help homeowners locate insurers, explanations of coverage types and common policy terms, and step-by-step guidance on how to file and navigate a claim.
The bill would also bar insurers from counting land value in certain coverage calculations to guard homeowners against inflated premiums, expand disclosure requirements for hurricane mitigation discounts, and ensure that certain rate information is not shielded from public records disclosure.
“House Bill 767 strengthens consumer transparency and education in Florida’s residential property insurance market,” Benarroch told Representatives on Wednesday. “The bill requires the office of insurance regulation to establish and maintain a consumer-friendly resource center on its website that provides clear information about rate filings, market trends, mitigation credits, claim processes and consumer rights.”
Under the proposal, insurers would also have to notify customers about the resource center whenever they offer a new policy or send a renewal notice, and clarifies that statewide average rate changes are not trade secrets and cannot be withheld from the public.
Beyond transparency changes, the legislation prohibits insurers from including the value of the land when establishing the coverage amount or adjusting a claim for a dwelling or structure under a homeowner’s policy. The bill would also require that insurers inform applicants and policyholders if they offer enhanced discounts for roof systems that use secondary water resistance.
A similar bill filed by Hialeah Gardens Republican Sen. Bryan Avila (SB 832) cleared its first of three Senate Committees on Jan. 13. If approved by the full Legislature and signed by the Governor, the measure would take effect July 1.
