Florida Senate Allocates $176 Million to Reinforce Houses
Florida Senate Approves Legislation to Address My Safe Florida Home Program Backlog
Background
Florida’s Senate has passed legislation aimed at tackling the backlog in the My Safe Florida Home Program, designed to bolster homes against storms and reduce insurance premiums. Administered by the Florida Department of Financial Services, this initiative offers free home inspections and matches funding for home improvements.
Backlog Challenges
The program is currently on hold due to a backlog of over 17,000 applications and insufficient funds. Applicants with a status of “Submitted” have been awaiting attention until additional funding is secured from the Florida Legislature.
Legislative Response
Both the House and Senate have unanimously approved the legislation, awaiting Governor Ron DeSantis’ signature for enactment.
Benefits and Impact
According to Florida’s Chief Financial Officer, Jimmy Patronis, the program has yielded significant benefits, with an average policyholder discount exceeding $1,000. This not only makes homes safer but also renders insurance premiums more affordable.
Program Renewal and Expansion
Reinstated in 2022 amidst soaring property insurance costs, the program offers free evaluations to eligible homeowners, focusing on wind mitigation strategies. Initially limited to homes with a maximum insured value of $300,000, the eligibility criteria were expanded in 2022 to include homes valued up to $500,000.
Program Performance
Between May 2022 and February 2023, the program completed over 16,000 mitigation inspections and approved nearly 3,000 grant applications. Additionally, it provides financial assistance, with the state matching two dollars for every dollar spent by homeowners on approved renovations, up to a maximum of $10,000.
Success and Outreach
Patronis emphasizes the program’s success, noting its impact on over 87,000 homeowners who received free home inspections to better safeguard their properties during disasters.
Conclusion
The legislation’s passage signals a significant step towards addressing the backlog in the My Safe Florida Home Program, ensuring more homeowners can fortify their properties against storms and mitigate insurance costs.
