DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 428 Original 2024 Regular Session Boyd
Abstract: Provides policyholders the option to limit or exclude coverage of personal property within
insurable property.
Present law provides for the La. Citizens Property Insurance Corp. and requires its operation of the
La. Insurance Underwriting Plan (Coastal Plan) and the La. Joint Reinsurance Plan (FAIR Plan) as
residual market insurance programs to provide access to adequate property insurance for designated
areas of the state, including the coastal areas.
Present law defines "insurable property" for coverage under the La. Citizens Property Insurance
Corp. Provides that insurable property includes real or immovable property and tangible personal
property and corporeal movable property.
Proposed law authorizes a policyholder, through written request, to limit or exclude coverage of
personal or movable property. Further provides that if a policyholder exercises either option, the
insurer is required to calculate an appropriate reduction in premium and return the reduction to the
policyholder.
(Amends R.S. 22:2292, 2322, and 2336)