No Insurance Deductibe for Crime Damage in Florida (Valrico, FL)

No Insurance Deductibe for Crime Damage in Florida

(813) 695 4557) Blake Plesco Florida Realty Florida to Insurers No deductible for crime damage TALLAHASSEE Fla. April 17 2014 Florida property insurance law has a crime victims exemption passed in 1994. Under the Florida Crimes Compensation Act owners do not have to pay a deductible on a property insurance claim for damage caused by a criminal act. However Florida Attorney General Pam Bondi notes in a letter to Insurance Commissioner Kevin McCarty that not all insurers adhere to the rules. As a result McCarty issued a memo on April 8 reminding Florida insurers about the law. Eligibility (for negating the deductible) is determined solely by the Office of the Attorney General and may not be revisited by insurance companies McCarty said in his memorandum. Eligible insureds will receive a notice of waiver issued by the Office of the Attorney General that should be filed with their claim. Upon receipt of the notice of waiver a company must pay for a covered loss even if the loss does not exceed the deductible or co-payment provided in the policy. The deductible waiver applies but is not limited to victims who suffer personal physical injury or death as well as elderly persons or disabled adults who suffer property loss that causes substantial diminution in their quality of life. Under the law all Florida property insurers must have procedures in place to properly adjust losses of individuals who are eligible under the Act. If you are thinking about buying or selling your home give us a call we have a lot more helpful information. 813 695 4557 Blake Plesco