Connecticut House Bill HB06112

Connecticut 2023 Regular Session

• Introduced: 1/18/23
• Refer: 1/18/23

Caption

An Act Requiring Homeowners Insurance Coverage For The Peril Of Collapse.

Impact

If enacted, HB06112 would amend title 38a of the general statutes, which governs insurance regulations in the state. The requirement for all homeowners insurance policies to cover collapse would likely result in an increase in premiums, as insurance companies adjust their pricing models to account for this added risk. The bill may also lead to increased scrutiny of building standards and construction practices, as insurers may require stricter compliance with safety regulations to mitigate their liabilities.

Summary

House Bill 06112 aims to mandate homeowners insurance policies to include coverage specifically for the peril of collapse. The legislation seeks to enhance the protection afforded to homeowners facing potential structural failures that may not currently be adequately covered under standard insurance policies. By requiring insurers to include this coverage explicitly, the bill is intended to safeguard property owners against significant financial loss resulting from such events.

Contention

While proponents of HB06112 argue that the bill is essential for protecting homeowners, critics may raise concerns about the financial implications of mandating such coverage. There could be discussions around the potential impact on insurance markets, including the risk of higher costs for consumers. Additionally, some stakeholders might argue that requiring coverage for collapse could lead to more stringent requirements for home inspection and maintenance, thereby increasing the burden on homeowners to ensure compliance with insurance standards.