Measures providing funds to make homes better able to withstand hurricanes have been approved in the Florida Legislature.
The loss mitigation provisions were part of an overall property insurance omnibus bill passed in the closing hours of the 2006 session.
“The hurricane insurance package passed just before adjournment Friday night is the most significant property insurance bill since major legislation following Hurricane Andrew,” said Sam Miller, executive vice president of the Florida Insurance Council.
The bill establishes the Florida Comprehensive Hurricane Damage Mitigation program within the Department of Financial Services and provides free inspection of site-built residential property.
It provides 50 percent matching grants to encourage single-family, site-built homes to retrofit. Homes must have an insured value of $500,000 or less, and grants are limited to $5,000.
The funds will come from a $250 million fund that is nonrecurring with unexpended balance reverting in three years to general revenues.
Mr. Miller called the program an “unprecedented” effort to make the homeowners aware of the windstorm risk to their homes.
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