Florida’s House Bill 913 took effect July 1, 2025. Most of the coverage since then has focused on inspections and reserve studies — which means the provision that hits your insurance renewal directly has been flying comfortably under the radar. Right up until your agent asks for a document you don’t have.
Let’s fix that before renewal season does it for you.
The 36-month appraisal rule
Under the updated Florida Statute 718.111(11), which covers condos, your association’s property coverage must be based on the replacement cost of the property — and that replacement cost has to come from an independent insurance appraisal (or an update of a prior one), refreshed at least once every 36 months.
Two things make this one bite harder than it reads:
It overrides your governing documents. If your declaration has some charming 1987-vintage language suggesting a lower coverage standard, that language is now decorative. The statute wins.
Carriers are actually checking. An appraisal older than three years is a red flag at renewal. Stale valuations can mean co-insurance penalties, reduced payouts after a loss, non-renewal, or — for individual board members — uncomfortable conversations that start with the phrase “fiduciary duty.” And since construction costs have done nothing but climb, the gap between what your property is insured for and what it would actually cost to rebuild is usually bigger than the board expects. Sometimes a lot bigger.
The fix is simple: dig out your last replacement cost appraisal. If it’s dated before mid-2023, or you’ve renovated since, schedule an update before your agent asks. It’s a far better look than after. Contact Prestar for guidance.
No compliance, no Citizens
HB 913 also connected insurance eligibility to structural compliance. Citizens Property Insurance can’t issue or renew a policy for an association (or its unit owners) unless the association has completed its required milestone inspection and Structural Integrity Reserve Study, and Citizens is no longer obligated to insure properties without adequate reserve funding.
For the many Florida communities where Citizens is the insurer of last resort, “we’ll get to it” is no longer a compliance strategy.
Other changes worth knowing
These fall outside what we do at Prestar — inspections and reserve studies are their own professions, and we’ll leave the engineering to the engineers — but your board should have them on the radar:
SIRS deadlines have largely passed. The initial deadline was December 31, 2025, with a narrow extension to December 31, 2026 for associations aligning with a milestone inspection. If your association missed it, talk to your attorney and a qualified provider — soon.
Reserve threshold raised. The cutoff for items that must be reserved rose from $10,000 to $25,000, indexed to inflation starting February 2026.
More funding flexibility. Reserves can now be funded through special assessments, loans, or lines of credit with majority approval — and contributions can be temporarily paused after a milestone inspection to prioritize repairs.
“Three habitable stories.” Inspections and SIRS apply at three or more habitable stories, so a building sitting on a ground-floor parking garage may count differently. That’s a question for your attorney, not a box the board checks itself.
Paperwork lives longer. Structural reports must be kept 15 years, and board members now sign an affidavit confirming they received the SIRS. (Yes, the state would like it in writing that you read it.)
Where Prestar fits in
We provide independent replacement cost valuations and insurance appraisals that satisfy F.S. 718.111(11) — built to hold up when a carrier looks at them closely, because these days they do. We work with condominium associations, HOAs, and property management companies across the entire state of Florida.
If your appraisal is coming up on the 36-month mark — or nobody on the board can quite remember when it was done, which is its own answer — reach out and we’ll take a look at where you stand. No obligation, no hard sell.
Frequently asked questions
How often does Florida require a condo insurance appraisal? At least every 36 months under F.S. 718.111(11). Many carriers are asking for fresher numbers than that, thanks to construction cost inflation.
Is an insurance appraisal the same as a bank appraisal? No. The bank cares what your property would sell for. Your insurer cares what it would cost to rebuild to current code — land not included. Only the second one satisfies the statute.
Is an insurance appraisal the same as a SIRS? Also no, and you likely need both. A SIRS plans the funding for future structural repairs; an insurance appraisal sets the replacement cost your coverage must be based on. Different documents, different professionals, both on the state’s list.
Does this apply to my two-story community? The inspection and SIRS rules kick in at three habitable stories, but the insurance appraisal requirement applies to association property coverage generally. When in doubt, ask your association’s attorney.
This article is for general information and isn’t legal advice — for your association’s specific obligations, talk to your attorney. They enjoy these questions far more than we do.
