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Episode 3 of the Florida Insurance Survival Series

Rick Kooyman discusses the impact of Florida building codes on condo owners, particularly regarding impact-rated products. He explains that products must pass large missile tests to meet the code, which increases costs. Discounts for meeting these standards can range from 10% to 68%. He also details the stringent requirements for roofing, including nail specifications, underlayment materials, and roof shape. Kooyman highlights the challenges of maintaining and upgrading older structures to meet these standards, noting the high costs and the need for comprehensive inspections. He emphasizes the importance of understanding insurance policies and the potential for significant assessments in condo communities.

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Episode 2 of the Florida Insurance Survival Series

Rick Kooyman discusses the stringent insurance industry standards affecting home inspections, particularly the four-point inspection. He notes that roofs, once insurable for 10 years, are now only insurable for 21-22 years, leading to higher costs or refusal of coverage. The industry also scrutinizes electrical panels, wiring, and plumbing, with specific attention to the type and age of materials. Kooyman highlights the impact of humidity and corrosion on appliances like air conditioners and hot water tanks, which are now insurable for only 12 years. He also explains the Wind Mitigation Program, which offers discounts for homes built to the Florida building code, and the importance of arc fault and ground fault outlets in modern building codes.

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Episode 1 of the Florida Insurance Survival Series

Rick Kooyman discusses the rise in Florida insurance costs, tracing it back to Hurricane Andrew in 1992, which led to the creation of the Miami-Dade building code and later the Florida building code in 2002. The state established Citizens Insurance to cover high-risk areas, but it became a dominant player. Post-Irma, insurance policies required new roofs, inflating costs. Public adjusters and contractors profited, leading to higher premiums. DeSantis's House Bill 1857 favored insurers, reducing coverage and increasing denials. Four-point inspections, now mandatory, are costly and often lead to policy denials, exacerbating the insurance crisis.

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