SESSION WATCH
THE BILL ITSELF

HB 775

Homeowner's Insurance Premium Reductions

VERSION H 775 Filed · BACK TO THE SUMMARY · OFFICIAL RECORD

underlined language is being added; struck language is being deleted. Line numbers are the Legislature's own — the same ones amendments cite.

1 A bill to be entitled
2 An act relating to homeowner's insurance premium
3 reductions; creating s. 627.70171, F.S.; providing a
4 short title; providing legislative intent; providing
5 definitions; requiring premium reductions to be
6 applied to homeowners who maintain certain claim-free
7 periods; providing requirements for such premium
8 reductions; providing that homeowners who file major
9 storm claims remain eligible for premium reductions;
10 requiring the Office of Insurance Regulation to
11 determine premium reduction schedules for such
12 homeowners; prohibiting homeowners' insurers from
13 treating major storm claims as certain other claims;
14 requiring premium reductions for certain mitigation
15 upgrades; providing duties and publication
16 requirements for the office; providing reporting
17 requirements for insurers; providing rulemaking
18 authority; providing an effective date.
20 Be It Enacted by the Legislature of the State of Florida:
22 Section 1. Section 627.70171, Florida Statutes, is created
23 to read:
24 627.70171 Homeowner's insurance premium reductions based
25 on claim-free periods and mitigation upgrades.—
26 (1) SHORT TITLE.—This section may be cited as the
27 "Homeowner Savings and Premium Reduction Act."
28 (2) LEGISLATIVE INTENT.—It is the intent of the
29 Legislature that:
30 (a) Responsible homeowners receive lower property
31 insurance premiums.
32 (b) Homeowners who maintain their property in good
33 condition and avoid making insurance claims be rewarded with
34 predictable, automatic savings.
35 (c) Homeowners who file legitimate claims related to major
36 storms not be penalized.
37 (d) Homeowners be incentivized to protect their homes by
38 implementing housing hardening, mitigation upgrades, and
39 infrastructure improvements.
40 (e) This legislation improve insurers' transparency and
41 accountability in how premium reductions are applied.
42 (3) DEFINITIONS.—As used in this section, the term:
43 (a) "Claim-free period" means a continuous period with no
44 filed or paid claims excluding major storm claims.
45 (b) "Major storm claim" means a claim resulting solely
46 from a named storm or hurricane as designated by the National
47 Hurricane Center.
48 (c) "Mitigation upgrade" means a property improvement,
49 such as roof reinforcement, shutters, floor barriers, tie-downs,
50 impact-resistant windows, and reinforced doors, which are
51 approved by the office to reduce the property risk to hazard
52 events.
53 (4) MANDATORY PREMIUM REDUCTIONS FOR CLAIM-FREE PERIODS.—
54 (a) A property insurer issuing, delivering, issuing for
55 delivery, or renewing a homeowner's insurance policy in this
56 state on or after July 1, 2026, shall automatically apply
57 premium reductions for policyholders who maintain a 36-month
58 claim-free period.
59 (b) The premium reductions required under paragraph (a)
60 must be:
61 1. Statewide, uniform, and actuarially sound.
62 2. Published annually by the office based on actuarial
63 review.
64 3. Applied at policy renewals or, if the 36-month claim-
65 free period is reached early, before policy renewals.
66 4. Automatic. An insurer may not require homeowners to
67 request the reduction.
68 (c) A homeowner who files only major storm claims remains
69 eligible for premium reductions. The office shall determine the
70 premium reduction schedule for such homeowners, except that a
71 homeowner with one major storm claim in a 36-month claim-free
72 period is entitled to a full premium reduction.
73 (d) An insurer may not treat major storm claims in the
74 same way as preventable or maintenance-related claims.
75 (5) MITIGATION UPGRADES.—
76 (a) A property insurer issuing, delivering, issuing for
77 delivery, or renewing a homeowner's insurance policy in this
78 state on or after July 1, 2026, shall give premium reductions to
79 homeowners who complete office-approved mitigation upgrades. The
80 premium reductions for mitigation upgrades are separate from the
81 premium reductions that are based on claim-free periods.
82 (b) The office shall create a list of eligible mitigation
83 upgrades, set premium reduction percentages based on mitigation
84 upgrades, and maintain a database of approved contractors and
85 products. Such list, percentages, and database shall be
86 accessible on the office's website.
87 (6) ANNUAL REPORTING REQUIREMENTS.—
88 (a) By January 1 of every year, each homeowner's insurer
89 shall submit a report on the premium reductions under this
90 section to the office, the President and Minority Leader of the
91 Senate, the Speaker and Minority Leader of the House of
92 Representatives, and the chairs of the legislative committees
93 with jurisdiction over matters of insurance.
94 1. The report must include:
95 a. The number of policyholders eligible for premium
96 reductions under this section.
97 b. The number of policyholders receiving premium
98 reductions under this section.
99 c. The total dollar value of premium reductions provided.
100 d. The number of major storm claims and the number of non-
101 major storm claims.
102 2. The data submitted under subparagraph 1. must be broken
103 down by county and coverage type.
104 (b) The office shall publish, for transparency and public
105 trust, an annual statewide summary report on the data gathered
106 from the reports submitted by homeowner's insurers under
107 paragraph (a).
108 (7) RULEMAKING.—The office may adopt rules to enforce:
109 (a) Premium reduction schedules.
110 (b) Mitigation upgrade standards.
111 (c) Insurer reporting requirements.
112 Section 2. This act shall take effect July 1, 2026.