Massachusetts S2737 mandates homeowners' insurance policies to cover remediation costs for heating oil releases on residential properties.

Massachusetts S2737 amends Chapter 175 of the General Laws to require homeowners' insurance policies to cover response action costs for heating oil releases. This includes costs to assess and remediate releases impacting buildings, soil, indoor air, or other environmental media on residential properties. The minimum coverage is set at $75,000 per occurrence for first-party property coverage and $250,000 per occurrence for third-party liability coverage, with a deductible not exceeding $1,000 per claim. The act applies to policies issued or renewed on or after July 1, 2025.

Massachusetts S2737 mandates homeowners' insurance policies to cover remediation costs for heating oil releases on residential properties.

Massachusetts S2737 amends Chapter 175 of the General Laws to require homeowners' insurance policies to cover response action costs for heating oil releases. This includes costs to assess and remediate releases impacting buildings, soil, indoor air, or other environmental media on residential properties. The minimum coverage is set at $75,000 per occurrence for first-party property coverage and $250,000 per occurrence for third-party liability coverage, with a deductible not exceeding $1,000 per claim. The act applies to policies issued or renewed on or after July 1, 2025.