Florida Governor Rick Scott Signs SB 490 Doubling Cancellation Period For Reinstatement Auto Policies
Jun 16, 2014
Signed by Florida Governor Rick Scott on June 13, 2014, SB 490 substantially amends s. 627.7275, F.S. by extending the underwriting period from 30 to 60 days for non-cancellable auto insurance coverage required to reinstate driving privileges revoked or suspended for failure to:
- Maintain required security (insurance coverage), or
- For committing a Driving Under the Influence (DUI) offense.
As of SB 490’s effective date, July 1, 2014, this type of policy will be effective during the longer underwriting period, but the insurer may cancel it.
To view the bill text, click here.
SB 490 also allows the insured to change the coverage amounts without requiring the policy to be cancelled, so long as the minimum required coverage amounts are maintained.
Should you have any questions or comments, please contact Colodny Fass& Webb.
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