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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 part‑time staff position to run the program without adding headcount. Grants would be limited to primary residences, subject to a means test, and capped at $10,000 per household to target discrete hazard reduction such as tree removal, roof fortification or foundation work.
The bill would allow a mix of project pathways, including full IBHS‑strengthened roof retrofits for those who pursue them and smaller targeted fixes for lower‑income households. Christian Terrell, the department’s chief property and casualty actuary, said the most direct beneficiary is the homeowner, who should be in a better underwriting position at renewal after an eligible project is completed. The department emphasized safeguards including credentialed evaluators and contractors and eligibility criteria designed to limit fraud.
Lawmakers pressed the department on several implementation questions. Representatives asked how many homeowners could benefit, whether federal strings might attach if the state accepted federal loan or grant support, and how applications would be prioritized. Bettin Court said the number of beneficiaries will vary with funding — a $5 million fund would serve many more households than a $1 million pot — and that language can be tightened on federal funds in rule‑making. He confirmed that department staff will pursue philanthropic partners and work with the NIC (National Association of Insurance Commissioners) network on program design.
Several legislators also raised concerns about transparency and privacy. The bill includes confidentiality provisions intended to protect applicants’ private financial information from public disclosure (an exemption from RSA 91‑A for application materials, except as required by law), while still leaving program results public.
What’s next: The committee will weigh whether to move the bill into work sessions. Department staff asked lawmakers to consider that program costs would be driven by the amount of philanthropic and partner funding the state can secure, and that rules would be used to work out wait‑list, rollover and eligibility details.
