Rhode Island H7066 amends insurance regulations to require advance notice for homeowner's insurance renewals and coverage reductions.

Rhode Island H7066 amends the regulations on the cancellation and renewal of liability and property damage insurance for automobiles, homeowners insurance, residential fire insurance, and components thereof. The bill mandates that insurers provide two months' advance notice to policyholders for any homeowner's insurance renewals with a cost increase exceeding 20%. It also requires insurers to notify policyholders of any coverage reductions, eliminations, or increased deductibles not at the insured's request.

Rhode Island H7066 amends insurance regulations to require advance notice for homeowner's insurance renewals and coverage reductions.

Rhode Island H7066 amends the regulations on the cancellation and renewal of liability and property damage insurance for automobiles, homeowners insurance, residential fire insurance, and components thereof. The bill mandates that insurers provide two months' advance notice to policyholders for any homeowner's insurance renewals with a cost increase exceeding 20%. It also requires insurers to notify policyholders of any coverage reductions, eliminations, or increased deductibles not at the insured's request.