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By-Alex Harris
MIAMI – A line in the Florida Legislature’s latest attempt to fix the state’s fractured home insurance market promises to have big impacts on more than a million Floridians. It will force them to also buy flood insurance – even if their homes aren’t in designated flood zones.
The provision, included in a sweeping insurance bill passed late last year, will make flood insurance mandatory for any homeowners with hurricane wind policies from Citizens Insurance, the state-run insurer of last resort. At minimum, that’s likely to add hundreds of dollars a year to the insurance bill.