Quick answer: Under Florida’s post-Surfside condo laws, associations must complete a Structural Integrity Reserve Study (SIRS) and fund structural reserves, and boards can no longer vote to waive those contributions for covered components. Milestone inspections add a second layer. Together they shape what insurers, lenders, and buyers see when they evaluate a building, so boards should treat reserves, inspections, and condo association insurance as one connected plan.
Why Florida condo associations are under pressure
The 2021 Champlain Towers South collapse in Surfside led Florida lawmakers to overhaul condominium safety rules, most notably through SB 4-D (2022) and later amendments. We explored the construction-insurance side of that story in Surfside’s Insurance Gap: Lessons for Florida Builders. For existing buildings, the practical effect is that deferred maintenance is no longer something a board can quietly postpone.
The two requirements every board should know
1. Milestone structural inspections
Condominium and cooperative buildings three stories or taller must be inspected by a licensed engineer or architect once they reach a set age, generally 30 years, or 25 years for buildings within three miles of the coastline, and every 10 years afterward. If the inspector finds substantial structural deterioration, a phase-two inspection follows, and the reports must be kept and shared with owners and prospective buyers. Deadlines have been extended and adjusted by the Legislature, so boards should confirm their building’s current date with counsel or the Florida DBPR condominium division.
2. Structural Integrity Reserve Study (SIRS)
A SIRS is a reserve study prepared by a licensed professional that covers specific structural and safety components such as the roof, load-bearing walls, floors, foundation, fireproofing, plumbing, electrical, waterproofing, windows, and fire protection and safety systems. Associations were required to complete their first SIRS by December 31, 2024, and budgets adopted after January 1, 2025 must fund the study’s findings. CRC Group’s summary offers a simple example: a $2 million roof with a 25-year life implies roughly $80,000 a year in reserve contributions. For the statutory text, see Florida Statute 718.112. Legislation in 2025 refined several details, so confirm current requirements before adopting a budget.
How reserves and inspections affect insurance
Insurers underwrite a building’s physical condition. When an inspection report shows unresolved structural issues, carriers may decline to quote, add restrictive terms, or price the account sharply higher. Lenders then ask for proof of insurance before approving unit mortgages, which can stall sales. One Miami complex profiled by CRC Group saw premiums rise about 300 percent in a single year and had to assemble coverage across 11 different carriers.
The good news is that the Florida commercial market is easing. Central Florida advisors report capacity returning after years of 30 to 50 percent annual increases, and local coverage describes signs of relief in the hard market. Associations that can show funded reserves, completed inspections, and a repair schedule are best positioned to benefit.
A board checklist before your next renewal
- Confirm your SIRS and inspection status. Know which deadlines apply and whether reports are filed and shared as required.
- Budget the structural reserves. Contributions for SIRS components cannot be waived, so build them into the annual budget.
- Document repairs. Keep contracts, permits, photos, and engineer sign-offs for work completed. Underwriters want proof, not promises.
- Start renewal early. Begin 120 to 180 days ahead so your broker can market the account to admitted and surplus lines carriers.
- Review limits and valuation. Replacement cost values should reflect current construction costs, not figures from several years ago.
- Check directors and officers coverage. Board members face personal exposure when reserve and maintenance decisions are challenged, so confirm your D&O policy is in place and adequate.
For a refresher on who owns what inside a Florida condo, read Understanding Florida Condominium Association Laws.
Frequently asked questions
What is a SIRS in Florida?
A Structural Integrity Reserve Study is a professionally prepared study that identifies the structural and safety components of a condominium building, their remaining useful life, and the annual reserve funding needed to replace them.
Can a Florida condo board waive structural reserves?
No. For SIRS components, associations can no longer vote to waive or reduce reserve contributions, though other reserve items may follow different rules.
Does a milestone inspection affect condo insurance?
It can. Insurers and lenders review inspection findings, and unresolved structural issues can lead to higher premiums, limited carrier options, or coverage restrictions.
When should a condo association start its insurance renewal?
Most brokers recommend starting four to six months before expiration, especially for large coastal buildings or those with open repair items.
Get help preparing your association’s insurance program
Highlight Risk Services works with Florida condominium and homeowners associations on property, liability, and D&O programs. Contact our team to plan your next renewal, or explore more resources on our blog.
This article is general information, not legal or engineering advice. Condominium statutes change often; confirm current requirements with your association attorney and licensed professionals.