General Bill by Ross
YEAS 38 NAYS 1 -
Patriot and Warrior
A Painting by Christopher M.
Oil on Linen, 126 by 48
in the Chamber of the
GALLAGHER ASSURES STORM VICTIMS THAT A PROCESS TO APPLY
FOR DEDUCTIBLE RELIEF WILL SOON BE IN PLACE
Florida lawmakers approved a measure - House Bill 9A - that will provide $150
million in financial assistance for Floridians faced with multiple hurricane
deductibles. Those eligible will be reimbursed up to $30,000 to cover multiple
deductibles applied to homeowners insurance policies. Storm
victims will be responsible for paying their first deductible plus $100 toward
each subsequent deductible.
The new law requires the state Department of Financial Services to promulgate
rules governing eligibility and the application process. Pending the governor’s
approval of the new law, the department will be assessing available data on
policyholders with multiple deductibles and working with insurance companies to
ensure all eligible Floridians are identified.
“Our goal is to get financial assistance to impacted Floridians as soon as
possible,” said Florida’s Chief Financial Officer Tom Gallagher, who oversees
the Department of Financial Services. “Applications from insurance companies to
eligible Floridians should be in the mail by early January.”
As part of their application, storm victims will need to provide proof from
their insurance companies that a second or third deductible was applied.
The maximum reimbursement is limited to the
amount of the policyholder’s loss in excess of one full deductible, but not
more than $10,000 per policy for damage caused by two hurricanes, not more
than $20,000 per policy for damage caused by three hurricanes, and not more
than $30,000 per policy for damage caused by four hurricanes.
Once applications are completed, Floridians will
need to forward them to the Florida Department of Financial Services. Submission
instructions will be included in the application packet storm victims will
The new law requires eligible Floridians to submit applications no later than
March 1, 2005.
For more information, consumers can contact the department at 1-800-22-STORM or
log on to www.MyFloridaCFO.com.
The skyline for December is downtown
Gainesville, featuring the Hippodrome Theater, originally the post office.