Conference committee adopts replacement-value requirement for homeowners' insurance
Conferees approved SB 2964 SD1 HD1 to require periodic agent checks to ensure homeowners' policies reflect improvements and adequate replacement-value coverage; the conference draft requires agents to ask homeowners every two years about significant improvements and share that information with insurers.
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The conference committee approved SB 2964 SD1 HD1 on April 29, a property-insurance measure aimed at ensuring homeowners' insurance reflects major home improvements so that policies cover replacement cost.
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