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BILL: CS/CS/SB’s 2086 & 2498

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Section 718.111(11)(a)2., F.S., permits an association or group of associations to self-insure against claims against the association, the association property, and the condominium property required to be insured by an association. To provide self-insurance, the association or associations must comply with the applicable self-insurance provisions of ss. 624.460-624.488, F.S. It also provides that such self-insurance is considered adequate insurance. A copy of each policy of insurance in effect must be made available for inspection by unit owners at reasonable times.

Section 718.111(11)(b), F.S., provides that every hazard insurance policy issued or renewed on or after January 1, 2004, to protect the condominium shall provide primary coverage for:

  • 1.

    All portions of the condominium property located outside the units;

  • 2.

    The condominium property located inside the units as such property was initially installed, or replacements thereof of like kind and quality and in accordance with the original plans and specifications or, if the original plans and specifications are not available, as they existed at the time the unit was initially conveyed; and

  • 3.

    All portions of the condominium property for which the declaration of condominium requires coverage by the association.

Section 718.111(11)(b), F.S., provides that:

Anything to the contrary notwithstanding, the terms “condominium property,” “building,” “improvements,” “insurable improvements,” “common elements,” “association property,” or any other term found in the declaration of condominium which defines the scope of property or casualty insurance that a condominium association must obtain shall exclude all floor, wall, and ceiling coverings, electrical fixtures, appliances, air conditioner or heating equipment, water heaters, water filters, built-in cabinets and countertops, and window treatments, including curtains, drapes, blinds, hardware, and similar window treatment components, or replacements of any of the foregoing which are located within the boundaries of a unit and serve only one unit and all air conditioning compressors that service only an individual unit, whether or not located within the unit boundaries.

Section 718.111(11)(b), F.S., further clarifies that this exclusion is intended to establish the property or casualty insuring responsibilities of the association and those of the individual unit owner and do not serve to broaden or extend the perils of coverage afforded by any insurance contract provided to the individual unit owner.

Section 718.111(11)(b), F.S., provides that, beginning January 1, 2004, condominium associations are authorized to amend the declaration of condominium, without regard to any requirement for mortgagee approval of amendments affecting insurance requirements, to conform the declaration of condominium to the coverage requirements of this section.

Regarding the individual unit owners hazard insurance responsibilities, s. 718.111(11)(c), F.S., provides that:

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