Insurance department proposes $1 million Granite State resiliency fund to help homeowners cut premiums

The New Hampshire Insurance Department unveiled a proposal to create the Granite State Home Mitigation and Resiliency Program that would set aside the first $1 million of insurance premium tax receipts each year to fund homeowner grants aimed at reducing risk and lowering premiums.

The department’s proposal, offered as a non‑germane amendment attached to House Bill 2 97 at a public hearing, would provide grants of up to $10,000 on a first‑come, first‑served basis to fund property improvements such as roof fortification, exterior hardening, foundation flood protections and removal of hazardous trees. The program would target lower‑income homeowners with means testing aligned to the state’s weatherization eligibility rules, allow unspent funds to roll over for the first five years, and authorize the department to administer payouts in coordination with the Treasury.

Commissioner DJ Bettencourt, testifying for the Insurance Department, said the program is proactive and not a post‑disaster subsidy. “This is a proactive program,” he said, describing grants that can help homeowners both qualify for better underwriting and obtain insurer discounts. Bettencourt told the committee his office modeled the design on…