Establishes a three-year pilot program to provide financial assistance to homeowners facing unexpected increases in property insurance premiums.

The bill establishes a temporary pilot program within the insurance division of the department of commerce and consumer affairs to assist eligible homeowners with unexpected increases in property insurance premiums. Eligible homeowners include those with limited incomes, recent unemployment, high debt-to-income ratios, or fixed incomes. The program provides financial assistance in the form of a one-time grant of up to $5,000 per household or fifty percent of the insurance premium increase, whichever is less.

Establishes a three-year pilot program to provide financial assistance to homeowners facing unexpected increases in property insurance premiums.

The bill establishes a temporary pilot program within the insurance division of the department of commerce and consumer affairs to assist eligible homeowners with unexpected increases in property insurance premiums. Eligible homeowners include those with limited incomes, recent unemployment, high debt-to-income ratios, or fixed incomes. The program provides financial assistance in the form of a one-time grant of up to $5,000 per household or fifty percent of the insurance premium increase, whichever is less.