Insurance Victory in Florida is Good News for Restoration Contractors and Homeowners
Earlier this year the Florida House of Representatives and the Florida State Senate proposed a bill that would have eliminated the homeowners’ right to assign their insurance claim benefits to restoration companies. This left restoration contractors exposed as they would no longer be protected by the insurance policy’s rights and left to collect the money from the homeowner.
Thanks to the grass roots efforts of restoration companies, their owners, employees, and many other advocates for the industry throughout the state, House Bill 909 and Senate Bill 1770 had all language opposing loss assignments struck from the bill. Homeowners will still be allowed to assign their loss rights to the restoration contractors, eliminating the risk and exposure that original bill proposed.
This victory is not only important to restoration contractors in Florida, but in surrounding states and even throughout the nation. Florida has been seen as one of states that is typically at the forefront of legislation. And, as legislation is passed in one of the pioneer states like Florida, it typically isn’t a long time before similar legislation is passed in other states as well.