Committee advances bill to speed contents payouts after total loss in declared disasters

Senator Ben Allen told the Insurance Committee SB 495 would simplify claims for disaster survivors by requiring insurers to pay personal-property coverage up to policy limits after a total loss in a declared emergency, and by extending the proof-of-loss period.

‘‘Under current law, the homeowner who experiences a total loss in disaster may receive a payment of 30% or up to $250,000 of the coverage limits of their policy without an itemized claim. But to receive the remainder, homeowners are required to undergo a really tedious and, in many cases, traumatizing task of creating an itemized list,’’ Allen said. He said SB 495 would require insurers to cover 100% of personal property coverage limits without an itemized inventory in declared emergencies, extend the proof-of-loss period to 180 days (with additional six-month extensions for reasons outside the policyholder’s control),…