Florida Statutes 634.327 – Applicability to warranty on new home
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Terms Used In Florida Statutes 634.327
- Insurer: means any property or casualty insurer duly authorized to transact such business in this state. See Florida Statutes 634.301
- warranty: means any contract or agreement whereby a person undertakes to indemnify the warranty holder against the cost of repair or replacement, or actually furnishes repair or replacement, of any structural component or appliance of a home, necessitated by wear and tear or an inherent defect of any such structural component or appliance or necessitated by the failure of an inspection to detect the likelihood of any such loss. See Florida Statutes 634.301
This part shall not apply to any program offering a warranty on a new home which is underwritten by an insurer licensed to do business in the state when the insurance policy underwriting such program has been filed with and approved by the office as required by law.