Florida Statutes
Fla. Stat. § 627.714 (2025)
Residential condominium unit owner coverage; loss assessment coverage required.
✓ 2025 Florida Statutes — current through the 2025 Regular Session
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627.714 Residential condominium unit owner coverage; loss assessment coverage required.—
(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.
(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.
Notes of Decisions
Cited in 3
cases (3 in the last 5 years), 2024–2024 · leading case: Universal Prop. & Cas. Ins. Corp. a/s/o Delores Senko v. Grove Isle at Vero Beach Condo. Ass'n, Inc. (Fla. 4th DCA 2024).
Universal Prop. & Cas. Ins. Corp. a/s/o Delores Senko v. Grove Isle at Vero Beach Condo. Ass'n, Inc. (Fla. 4th DCA 2024). “After the policy was issued, the Florida Legislature amended section 627.714 to state that if a condominium association’s policy does not provide the association’s insurer subrogation rights against an individual unit owner, then a policy issued to an individual unit owner…”
Universal Prop. & Cas. Ins. Co., a/s/o Virgilio Perez Y. Perez & a/s/o Sirkka v. Laguna Riviera Condo. Ass'n, Inc. (Fla. 2d DCA 2024). “There, we considered whether a statutory amendment barred an unlicensed contractor's claims even though the claims would have been viable under the version of the statute in effect when the contractor signed its 1 In doing so, the trial court expressed an "eager[ness] for…”
Universal Prop. & Cas. Ins. Co., a/s/o Virgilio Perez Y. Perez & a/s/o Sirkka Perez v. Laguna Riviera Condo. Ass'n, Inc. (Fla. 2d DCA 2024). “There, we considered whether a statutory amendment barred an unlicensed contractor's claims, even though the claims would have been viable under the version of the statute in effect when the contractor signed its 1 In doing so, the trial court expressed an "eager[ness] for…”
— 627.714(1) — 1 case
Universal Prop. & Cas. Ins. Corp. a/s/o Delores Senko v. Grove Isle at Vero Beach Condo. Ass'n, Inc. (Fla. 4th DCA 2024). “After the policy was issued, the Florida Legislature amended section 627.714 to state that if a condominium association’s policy does not provide the association’s insurer subrogation rights against an individual unit owner, then a policy issued to an individual unit owner…”
— 627.714(4) — 3 cases
Universal Prop. & Cas. Ins. Corp. a/s/o Delores Senko v. Grove Isle at Vero Beach Condo. Ass'n, Inc. (Fla. 4th DCA 2024). “After the policy was issued, the Florida Legislature amended section 627.714 to state that if a condominium association’s policy does not provide the association’s insurer subrogation rights against an individual unit owner, then a policy issued to an individual unit owner…”
Universal Prop. & Cas. Ins. Co., a/s/o Virgilio Perez Y. Perez & a/s/o Sirkka v. Laguna Riviera Condo. Ass'n, Inc. (Fla. 2d DCA 2024). “There, we considered whether a statutory amendment barred an unlicensed contractor's claims even though the claims would have been viable under the version of the statute in effect when the contractor signed its 1 In doing so, the trial court expressed an "eager[ness] for…”
Universal Prop. & Cas. Ins. Co., a/s/o Virgilio Perez Y. Perez & a/s/o Sirkka Perez v. Laguna Riviera Condo. Ass'n, Inc. (Fla. 2d DCA 2024). “There, we considered whether a statutory amendment barred an unlicensed contractor's claims, even though the claims would have been viable under the version of the statute in effect when the contractor signed its 1 In doing so, the trial court expressed an "eager[ness] for…”
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