Bill Text - HB1151 (2020)

Relative to the determination of homeowners insurance rates.


Revision: Dec. 2, 2019, 10:32 a.m.

HB 1151 - AS INTRODUCED

 

 

2020 SESSION

20-2186

01/10

 

HOUSE BILL 1151

 

AN ACT relative to the determination of homeowners insurance rates.

 

SPONSORS: Rep. Flanagan, Hills. 26

 

COMMITTEE: Commerce and Consumer Affairs

 

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ANALYSIS

 

This bill requires insurers to use home replacement basis of the municipality's assessed value of the building and cost of debris removal when setting rates for homeowners insurance.

 

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

20-2186

01/10

 

STATE OF NEW HAMPSHIRE

 

In the Year of Our Lord Two Thousand Twenty

 

AN ACT relative to the determination of homeowners insurance rates.

 

Be it Enacted by the Senate and House of Representatives in General Court convened:

 

1  New Subparagraph; Property and Casualty Insurance; Rate Standards.  Amend RSA 412:15, III by inserting after subparagraph (b) the following new subparagraph:

(c)  Rates for homeowners insurance shall use home replacement basis of the municipality's assessed value of the building and cost of debris removal.

2  Effective Date.  This act shall take effect 60 days after its passage.