Tim Geitner voted Yea (Concurrence Vote) on this Legislation.
Title: Establishes New Insurance Coverage Requirements for Homeowners in the Event of Total Loss Due to Wildfire
Signed by Governor Jared Polis
Title: Establishes New Insurance Coverage Requirements for Homeowners in the Event of Total Loss Due to Wildfire
Vote to concur with senate amendments and pass a bill that establishes new insurance coverage requirements for homeowners in the event of total loss due to wildfire.
Requires homeowners insurance policies to cover losses related to wildfires (Page 2).
Requires such policies to allow policyholders at least 36 months to submit certain receipts and invoices; authorizes further time extensions (Page 3).
Requires such policies to “include additional living expense coverage to apply in the event of such a [wildfire] loss” (Page 3).
Requires such policies to provide additional leeway to policyholders (Page 4).
Requires such policies to allow policyholders to use claims payments to pay costs of replacement residence (Page 5).
Requires insurers to offer policyholders minimum of 65% of limit of contents coverage; no written inventory of contents required (Page 6).
Requires simplified process for policyholders to submit inventory for personal property losses and expedite reimbursement for such losses (Page 7).
Title: Establishes New Insurance Coverage Requirements for Homeowners in the Event of Total Loss Due to Wildfire
Vote to amend and pass a bill that establishes new insurance coverage requirements for homeowners in the event of total loss due to wildfire.
Requires homeowners insurance policies to cover losses related to wildfires (Page 2).
Requires such policies to allow policyholders at least 36 months to submit certain receipts and invoices; authorizes further time extensions (Page 3).
Requires such policies to “include additional living expense coverage to apply in the event of such a [wildfire] loss” (Page 3).
Requires such policies to provide additional leeway to policyholders (Page 4).
Requires such policies to allow policyholders to use claims payments to pay costs of replacement residence (Page 5).
Requires insurers to offer policyholders minimum of 65% of limit of contents coverage; no written inventory of contents required (Page 6).
Requires simplified process for policyholders to submit inventory for personal property losses and expedite reimbursement for such losses (Page 7).
Title: Establishes New Insurance Coverage Requirements for Homeowners in the Event of Total Loss Due to Wildfire
Title: Establishes New Insurance Coverage Requirements for Homeowners in the Event of Total Loss Due to Wildfire