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Insurance officials pitch grant fund to help New Hampshire homeowners reduce insurance costs
Summary
The New Hampshire Insurance Department outlined Senate Bill 562, a grant-based program modeled on other states’ “safer homes” initiatives that would pay homeowners up to $10,000 for targeted resilience work to improve underwriting outcomes. Department leaders said they expect philanthropic and federal partner funding, not new state taxes.
The Insurance Department told the House Commerce & Consumer Affairs Committee it wants a new grant fund to help homeowners make specific, low‑to‑moderate-cost improvements that reduce insurance underwriting risk and lower premiums. Commissioner DJ Bettin Court said the department modeled the idea on programs from Alabama, Oklahoma and other states and proposed a capped‑grant approach that would not, at present, use state tax revenue.
“Homeowners face rising premiums and, in some cases, non‑renewals,” Bettin Court said, describing a “no taxpayer risk” plan that would accept philanthropic donations, pursue federal home‑loan bank partnerships in New England, and deploy a reconfigured…
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