September 01 2022 0Comment
Condo Legislation Florida 2022

New Insurance, Condo Reforms: What it Means for Your Roof

Does the current condition of your condominium’s roof meet insurance renewal requirements under the new legislation?

Insurance Reform:

  • Insurers may refuse to write or renew policies on roofs over 15 years old solely because of the roof’s age and deterioration.
  • Insurers can require a roof inspection for roofs 15 years old or older. If the inspection shows that the roof has five years or more of useful life remaining, the insurer cannot refuse to renew the policy. However, if it shows the roof has less than five years of useful life remaining, the insurer can require the roof to be replaced as a condition of renewal.
  • Roofs constructed using the 2007 Florida Building Code, or any subsequent editions of the Code, can now be repaired if 25% or more of the roof is damaged; only that portion is required to be constructed in accordance with the updated building code.

Condo Roof Inspection Reform Highlights:

Following the tragic 2019 Surfside condo building collapse, Senate Bill 4-D requires mandatory inspections of the building envelope by a licensed architect or engineer for all condos three or more stories high:

  • An association must perform a Milestone Structural Inspection for each building by December 31 of the year in which the building turns 30 and must be conducted every ten years after a building’s initial “phase 1” visual inspection.
  • For condos within three miles of the coastline, inspections must be done by December 31 of the year in which the building turns 25 and then every ten years after.
  • A more intensive “phase 2” inspection testing core samples will be required if the initial inspection reveals substantial structural deterioration.
  • Associations must conduct structural integrity reserve studies every ten years to ensure the funding for future structural repairs is available and prohibits waiver of funding for certain structural reserves. The association’s annual budget must account for any items identified by the study. Associations have until the end of 2024 to complete the initial structural integrity reserve study. 
  • All structural inspection reports and reserve studies will be part of the association’s official records for at least 15 years and must be provided to potential unit purchasers.

Watch this webinar to learn more about how this new legislation will affect your association.

How These New Laws Impact Your Condo’s Budget

By scheduling a roof inspection and repairs, associations can potentially avoid increased insurance renewal rates that come with an old roof or lack of information on the roofing system. Advanced Roofing can help increase the service life of your roof by providing preventative maintenance and repairs required to maintain your warranty.

New legislation makes it more manageable for condominiums to restore existing roof systems than under previous laws, and it protects associations from being forced to replace the entire roof system. Under SB 4D, roofs constructed using the 2007 Florida Building Code, or any subsequent editions, can be repaired if 25% or more of the roof is damaged. This means you do not have to replace the entire roof; only the damaged portion must be constructed following the latest building code.

In addition to annual operating expenses, an association’s budget must include reserve accounts for capital expenditures and deferred maintenance. These accounts must have roof replacement costs included, regardless of the replacement cost determined by the structural integrity reserve study. If the amount to be reserved is not included in the study or the association has not completed the study, the amount will be computed using a formula based upon the estimated remaining useful life and estimated replacement cost or deferred maintenance expense of each item.

Condo Roof Inspection Documentation

Advanced Roofing offers professional roof inspections to ensure your property complies with these new laws and to help you determine the reserve budget needed for insurance renewals. Documentation includes:

  • Certifying required maintenance
  • Current conditions and useful life of your roofing system
  • Repair and replacement costs

Schedule Roof Inspections Now to Avoid Massive Insurance Rate Hikes

Be sure to schedule your roof inspection at least 90 days or more before the insurance renewal date to perform inspections and make necessary repairs, attain official documentation on the useful life of the roof, and budget for repairs and maintenance.

With three decades of experience as Florida’s leading commercial roofing contractor, Advanced Roofing provides award-winning roof replacements, repairs, and maintenance services that give you and your building’s residents the peace of mind that comes with knowing their home is a safe place.

Call us at (800) 638- 6869 to schedule your condo roof inspection, or click here.