On October 1, a new Florida law went into effect that requires sellers of residential properties to disclose flood risks to buyers.
It comes after Hurricane Helen devastated communities across the state, flooding homes and businesses in its path.
Florida Rep. Christine Hanshofsky, who sponsored the bill, discussed the bill with Tom Hudson at the Florida Roundup.
He said homeowners selling their homes will be required to disclose whether they have ever filed insurance claims related to flood damage, such as during Hurricane Helen or other storms. This includes claims to the National Flood Insurance Program.
“So many Floridians don’t know that flood insurance is not included in their homeowner’s insurance policy, so I think this bill will help a lot of Floridians.”
Florida Congresswoman Christine Hanshofsky
“The only thing you need to tell the buyer is whether you filed a claim with your insurance company and whether you received any federal assistance related to the flood damage,” Hanshofsky said. “So many people who currently don’t have flood insurance and are unable to file a claim will receive federal assistance and will need to disclose it.”
Federal assistance for flood damage includes assistance from the Federal Emergency Management Agency.
“Also, part of the bill includes disclosures that let people know that flood insurance is not covered by homeowners insurance. Many people don’t know that, but they need to buy separate flood insurance. “There is,” she declared.
Currently, this law applies to homeowners. Hunschofsky said it also applies to condominium owners whose common areas have flooded, for example.
Florida House of Representatives
Christine Hanshofsky, D-Broward County, said homeowners selling their homes will now have to disclose whether they have ever filed an insurance claim related to flood damage.
“They are the apartment owners, so they will have to publicize the flooding.”
Landlords are also not required to disclose flood risks to tenants. Hunschofsky explained that this is not the last time the Florida Legislature will consider this law.
“We’re going to continue this work. Sen. (Jennifer) Bradley and I have already talked about wanting to look at next steps and see what’s possible,” Hanshofsky said. Ta. Sen. Bradley of Florida sponsored a joint Senate bill.
“Consumer Education Bill”
Hunschofsky said the purpose of the law is to make sure people buying homes are aware of the risks of flooding.
“And I think this bill is going to help a lot of Floridians when so many Floridians don’t know that flood insurance is not included in their homeowners insurance,” she said. spoke.
Hunschofsky said he believes this is “both a consumer protection bill and a consumer education bill,” especially in flood-prone states like Florida.
“Personally, I think if you’re in Florida you should almost always assume there’s a risk of flooding,” she says.
It’s also because areas like the Gulf Coast and Florida’s Big Bend have been battered by storms in recent years.
“As we’ve seen, unfortunately, some areas have been badly hit three times in the last 13, 18 months, especially for people who have invested so much money. You should be aware of these risks.” Buying a home is well worth it. ”
When it comes to home prices, a Florida House staff analysis of the bill found that “property owners looking to sell their properties may see a reduction in the market value of their properties due to required flood disclosures.” It turns out. But Hunschofsky said the state hasn’t experienced a decline in home values.
“In fact, the number has skyrocketed in the last few years,” she noted.
This article is a compilation of interviews conducted by Tom Hudson for the Florida Roundup.
