The Florida House has approved HB 767, a new bill designed to increase transparency and protect homeowners in the residential property insurance market.
If signed into law, the legislation would take effect July 1 and introduce several meaningful changes aimed at improving consumer understanding and preventing inflated coverage calculations.
Here is what homeowners should know.
📜 The Bill Sponsor
Yvette Benarroch, a Republican representative from Naples, filed House Bill 767 to strengthen consumer access to insurance rate information and improve education around policy terms and claims processes.
A companion bill, SB 832, was filed in the Senate by Bryan Avila of Hialeah Gardens.
🔍 1. A New Online Insurance Resource Center
The bill directs Florida’s Office of Insurance Regulation to create an online resource center specifically for residential property insurance consumers.
The site would include:
- Detailed rate filing information
- Statewide average rate changes
- Market trend reports
- Tools to help homeowners locate insurers
- Clear explanations of coverage types and policy terms
- Step-by-step guidance on filing and navigating a claim
- Information on mitigation credits and consumer rights
Insurers would also be required to notify policyholders about this resource center when issuing new policies or renewal notices.
The goal is simple: more clarity and fewer surprises.
🏡 2. Land Value Cannot Be Used to Inflate Coverage
One of the most impactful provisions prohibits insurers from including land value when calculating dwelling coverage amounts or adjusting a claim.
Why this matters:
Insurance covers the structure — not the dirt underneath it.
Including land value can artificially increase insured values and potentially raise premiums. This bill seeks to prevent that.
For high-value homeowners especially, this could result in more accurate coverage calculations.
🌪 3. Expanded Hurricane Mitigation Disclosure
The legislation also expands disclosure requirements around hurricane mitigation credits, particularly enhanced roof system discounts that use secondary water resistance.
Insurers would be required to clearly inform applicants and policyholders if those discounts are available.
Mitigation credits can significantly impact premiums. Transparency here is key.
📊 4. Rate Information Cannot Be Hidden
The bill clarifies that statewide average rate changes are not trade secrets and cannot be shielded from public records disclosure.
This ensures broader visibility into how rates are changing across Florida.
What This Means for Florida Homeowners
If enacted, HB 767 would:
• Improve access to rate and policy information
• Increase transparency in the insurance marketplace
• Help prevent inflated dwelling coverage calculations
• Strengthen mitigation credit disclosures
• Provide better guidance for navigating claims
While the bill does not directly lower rates, it aims to give homeowners clearer tools and information to make informed decisions.
In today’s Florida insurance environment, understanding your policy matters more than ever.
If you would like a review of your current dwelling coverage or mitigation credits, Hendrickson Insurance can help you determine whether your insured value accurately reflects the structure only — not the land — and whether you are receiving all available discounts.