The 2023 Florida Statutes (including Special Session C)

Title XXXVII
INSURANCE

Chapter 627
INSURANCE RATES AND CONTRACTS

View Entire Chapter

F.S. 627.453

627.453 Grace period.—Every insurance contract shall provide that the insured is entitled to a grace period of not less than 30 days within which payment of any premium after the first may be made. The payment may, at the option of the insurer, be subject to an interest charge not in excess of 8 percent per year for the number of days of grace elapsing before the payment of the premium, during which period of grace the policy shall continue in force. If the policy becomes a claim during the grace period before the overdue premium is paid, or the deferred premiums of the current policy year, if any, are paid, the amount of such premium or premiums with interest not in excess of 8 percent per year thereon may be deducted in any settlement under the policy.

History.—s. 480, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; ss. 2, 3, ch. 81-318; ss. 380, 404, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318.

F.S. 627.453 on Google Scholar

F.S. 627.453 on Casetext

Amendments to 627.453

Arrestable Offenses / Crimes under Fla. Stat. 627.453

Level: Degree
Misdemeanor/Felony: First/Second/Third

Current data shows no reason an arrest or criminal charge should have occurred directly under Florida Statute 627.453.

Annotations, Discussions, Cases:

Cases from cite.case.law:

STONE, v. JACKSON NATIONAL LIFE INSURANCE COMPANY,, 934 So. 2d 532 (Fla. Dist. Ct. App. 2006)

. . . For example, section 627.453, one of the enumerated sections, states that “[ejvery insurance contract . . . shall provide that the insured is entitled to a grace period.... ” § 627.453, Fla. . . . Thus, if this section, along with sections 627.453 and 627.454 were not included in the policy, we would . . . for delivery in this state unless it contains in substance each of the provisions as required by ss. 627.453 . . .

NATIONAL BEN FRANKLIN LIFE INSURANCE CORPORATION, v. COHEN,, 464 So. 2d 1256 (Fla. Dist. Ct. App. 1985)

. . . The insurance company also cites Sections 626.561, 626.611, 626.753, 626.794, 626.9541, 627.403, 627.453 . . . In such circumstance it appears clear that Section 627.453, Florida Statutes (1981), permits deduction . . .