Florida Statute 627.714. Residential condominium unit owner coverage; loss assessment coverage required.
Florida Statute 627.714. Residential condominium unit owner coverage; loss assessment coverage required.
Florida Statute 627.714. Residential condominium unit owner coverage; loss assessment coverage required.
Purpose
What this statute does
This statute establishes specific rights, duties, and deadlines affecting Florida property insurance policyholders. Understanding the statute is the difference between asserting your rights effectively and accepting carrier framing.
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In practice
How it applies to your claim
Whether Florida Statute 627.714 reaches your claim depends on your policy language and the facts of your loss. If it fits, cite the section by number when you correspond with your carrier.
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- ✓We work for policyholders, not insurance companies
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See also
Related statutes
Carrier duties and claim deadlines.
Notice of claim deadlines.
Public adjuster licensing and conduct.
Homeowner Claim Bill of Rights.
Matching statute.
AOB restrictions.
No obligation. No fee unless recovery.
No fee unless we recover more.
Quoted from the Florida Statutes
The text of Florida Statute 627.714
(1) For policies issued or renewed on or after July 1, 2010, coverage under a unit owner’s residential property policy must include at least $2,000 in property loss assessment coverage for all assessments made as a result of the same direct loss to the property, regardless of the number of assessments, owned by all members of the association collectively if such loss is of the type of loss covered by the unit owner’s residential property insurance policy, to which a deductible of no more than $250 per direct property loss applies. If a deductible was or will be applied to other property loss sustained by the unit owner resulting from the same direct loss to the property, no deductible applies to the loss assessment coverage.
Read the rest of Florida Statute 627.714
(2) The maximum amount of any unit owner’s loss assessment coverage that can be assessed for any loss shall be an amount equal to that unit owner’s loss assessment coverage limit in effect 1 day before the date of the occurrence that gave rise to the loss. Such coverage is applicable to any loss assessment regardless of the date of the assessment by the association. Any changes to the limits of a unit owner’s coverage for loss assessments made on or after the day before the date of the occurrence are not applicable to such loss.
(3) Regardless of the number of assessments, an insurer providing loss assessment coverage to a unit owner is not required to pay more than an amount equal to that unit owner’s loss assessment coverage limit as a result of the same direct loss to property.
(4) Every individual unit owner’s residential property policy must contain a provision stating that the coverage afforded by such policy is excess coverage over the amount recoverable under any other policy covering the same property. If a condominium association’s insurance policy does not provide rights for subrogation against the unit owners in the association, an insurance policy issued to an individual unit owner in the association may not provide rights of subrogation against the condominium association.
Reproduced from the Florida Legislature's published text, retrieved August 7, 2026. Read it at flsenate.gov
Statutes are amended. Confirm the current text at the source before relying on it.
Free claim review
Licensed Florida public adjusters. Free claim review. No recovery, no fee.
- ✓Licensed Florida public adjusters
- ✓We work for policyholders, not insurance companies
- ✓No fee unless we recover more than you were offered
What kind of damage?
Pick the closest match. We will ask for details next.
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