Hawaii SB2962 modernizes insurance laws to allow homeowners to rebuild or replace homes at different locations after disasters.

Hawaii SB2962 modernizes insurance laws to provide flexibility for homeowners after catastrophic losses. The bill allows insured persons to rebuild or replace their homes at a different location if the original site is unsafe or impractical. It also permits combining dwelling and other structures coverage limits to fund rebuilding or replacement, ensuring total insurer liability remains within existing policy limits. These reforms aim to speed recovery, relieve pressure on the rental market, and increase resilience to future disasters.

Hawaii SB2962 modernizes insurance laws to allow homeowners to rebuild or replace homes at different locations after disasters.

Hawaii SB2962 modernizes insurance laws to provide flexibility for homeowners after catastrophic losses. The bill allows insured persons to rebuild or replace their homes at a different location if the original site is unsafe or impractical. It also permits combining dwelling and other structures coverage limits to fund rebuilding or replacement, ensuring total insurer liability remains within existing policy limits. These reforms aim to speed recovery, relieve pressure on the rental market, and increase resilience to future disasters.