TALLAHASSEE — Talks continue ahead of a special legislative session on how much money will be needed to reduce the backlog of grant applications from Floridians looking to upgrade their homes to lower their insurance premiums.
State Chief Financial Officer Jimmy Patronis said Tuesday that financial resources are needed to address the more than 17,000 applications awaiting funding or submitted as part of the “My Safe Florida Home” program. He did not say how much money the Department of Services was seeking.
But the program has spent most of the $215 million it has received in grants since it was relaunched last year during the first of two 2022 special sessions on state property insurance issues. On average, the program saved him just over $1,000 in premium savings.
“We want to add a little bit to get us through to the end” for the 2024 regular session, which begins in January, Patronis said.
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“It’s still a work in progress. We just talked with the Senate appropriations staff yesterday,” Patronis said after speaking with the Capital Tiger Bay Club at the Donald L. Tucker Civic Center in Tallahassee. .
“How can we impress more people? Should we reconsider different qualification categories?” Patronis asked? “Is there another way to play? Perhaps we can touch more people and expand that money.”
Republican Congressional leaders announced Friday that lawmakers will convene a special session starting Nov. 6 on a range of issues, including the “My Safe Florida Home” program. Other issues include tightening state sanctions against Iran amid the war between Israel and Hamas. Provide additional support to people and communities affected by Hurricane Idalia. and increase the number of children eligible for the Family Empowerment Scholarship Voucher Program for students with unique abilities.
Senate President Kathleen Passidomo (R-Naples) and House Speaker Paul Renner (R-Palm Coast) said in a memo for the special session that applications for the My Safe Florida Home program are “backlogged.” He pointed out that it was happening.
The program was originally created in 2006 with $250 million, but received no additional funding for several years afterward, according to a House staff analysis. The program was re-established as an insurance patch during the May 2022 special session and received a $115 million grant. The program received an additional $100 million as part of the state’s 2023-2024 budget, which took effect July 1.
The average cost of home insurance in Florida (which includes storm coverage but not flood coverage) is $6,000 a year, according to data from the Insurance Information Institute, an industry group. The average is 42% higher than in 2022.
The national average is $1,700 per year, an 11% increase from 2022.
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According to the program’s website, the My Safe Florida Home program offers grants to help cover costs such as strengthening roof-to-wall connections, upgrading roofing materials, and upgrading doors and windows.
Patronis said testing is ongoing, but added: “There is definitely more demand than there are dollars in the bank.”
As of Monday, 20,926 My Safe Florida grants have been approved, obligating $209 million in payments to homeowners at various stages of construction completion. An additional 17,617 grant applications are considered “submitted” or awaiting funding.
Meanwhile, inspections of 84,707 homes have been completed and another 12,419 are under inspection.
Patronis said he wants lawmakers to fund the program on an annual basis during the 2024 regular session.
“I truly feel that the Legislature loves this program,” said Patronis, a former state representative whose department oversees the grant program. “We think they realized the value because of the drop in premium prices.”
Approximately $25.7 million in reimbursements (average $9,137) were sent to 2,881 homeowners. Of those homeowners, 1,468 disclosed discounts on their insurance premiums, which the department puts at $1,014 per year.
The department says the process from initial home inspection to grant approval, construction and reimbursement takes an average of 118 business days.
