SB2961 enhances insurance policies to provide displaced homeowners with greater flexibility and stability during recovery from disasters.

SB2961 amends Hawaii insurance laws to allow homeowners to use additional living expenses benefits for temporary housing, such as a manufactured home, during disaster recovery. Insurers must issue an advance payment of at least four months' worth of benefits within seven days of a total loss during a state of emergency. Benefits must be provided for a minimum of 36 months, with possible extensions for rebuilding delays. This change aims to prevent financial hardships and homelessness by ensuring displaced families have access to necessary housing during critical recovery periods.

SB2961 enhances insurance policies to provide displaced homeowners with greater flexibility and stability during recovery from disasters.

SB2961 amends Hawaii insurance laws to allow homeowners to use additional living expenses benefits for temporary housing, such as a manufactured home, during disaster recovery. Insurers must issue an advance payment of at least four months' worth of benefits within seven days of a total loss during a state of emergency. Benefits must be provided for a minimum of 36 months, with possible extensions for rebuilding delays. This change aims to prevent financial hardships and homelessness by ensuring displaced families have access to necessary housing during critical recovery periods.