WeVote
Log In

Bill

Bill

HD 2007

An Act relative to home owners insurance and funding repairs

194th Legislature (2025-2026) Introduced by Jamie Murphy

Requires $50K minimum home insurance coverage, 30-day claim processing, and state-run repair assistance fund financed by 1% premium surcharge to protect homeowners.

0
WeVote Research Nonpartisan
Bill Summary · HD 2007

HD 2007: An Act Relative to Home Owners Insurance and Funding Repairs

Summary

This proposed bill aims to provide additional financial support and protections for homeowners in the event of damage to their property that requires repairs. The key provisions of the bill are:

Increased Minimum Home Insurance Coverage

  • Requires all home insurance policies to include a minimum of $50,000 in coverage for repairs and rebuilding
  • This is an increase from the current $25,000 minimum coverage requirement

Expedited Claim Processing

  • Mandates that home insurance providers must process and pay out valid claims within 30 days of filing
  • Imposes penalties on insurers that do not meet this 30-day deadline

Repair Assistance Fund

  • Establishes a new "Home Repair Assistance Fund" managed by the state
  • Homeowners can apply for grants from the fund to cover costs exceeding their insurance coverage
  • Fund will be financed through a 1% surcharge on all home insurance premiums

Oversight and Enforcement

  • Creates a new state home insurance oversight board to monitor industry practices
  • Gives the state attorney general authority to investigate and fine insurers for non-compliance

Impact

This bill is intended to provide more financial protection and timely assistance for homeowners who suffer property damage, whether from natural disasters, accidents, or other causes. By increasing insurance coverage minimums and creating an additional repair funding source, the goal is to ensure homeowners don't have to bear the full burden of expensive home repairs out-of-pocket.

The expedited claims processing and enforcement provisions are also aimed at holding insurance companies accountable and preventing delays in payouts that can leave homeowners in limbo. Overall, the bill is designed to make the home insurance system more responsive and beneficial for consumers.

The new surcharge on premiums to fund the repair assistance program may lead to slightly higher home insurance costs for all policyholders. However, proponents argue the benefits of the added protections will outweigh the modest premium increases.

Compiled from official sources — confirm details with the bill’s official record.

Sign in to ask a question.