ATLANTA — The Georgia House of Representatives today unanimously passed House Bill 458 by a vote of 170-0. Introduced by state Representative Alex Atwood (R-Brunswick), HB 458 would reduce insurance costs for condominiums.
“In these challenging economic times, homeowner associations must be allowed the flexibility to self-determine the deductible cap on insurance policies,” said Rep. Atwood. “This is a sensible free-market approach for the purchase of insurance and I am thankful to all my House colleagues on both sides of the aisle for their strong and unanimous support.”
The bill increases the minimum deductible cap imposed by the State of Georgia for condominium association insurance policies from $2500 to $5000. The current deductible cap was set by the State of Georgia prior to the Great Recession of 2008.
For more information about HB 458, please click here.
Representative Alex Atwood represents the citizens of District 179, which includes portions of Glynn County. He was elected into the House of Representatives in 2010, and currently serves as the Vice Chair of Juvenile Justice, and as the Secretary of Public Safety and Homeland Security. He also serves on the Appropriations, Insurance, and Judiciary Non-Civil committees.
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