| 1 | 1 | | |
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| 2 | 2 | | <BillNo> <Sponsor> |
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| 3 | 3 | | |
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| 4 | 4 | | SENATE BILL 1243 |
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| 5 | 5 | | By Massey |
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| 6 | 6 | | |
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| 7 | 7 | | |
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| 8 | 8 | | SB1243 |
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| 9 | 9 | | 002938 |
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| 10 | 10 | | - 1 - |
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| 11 | 11 | | |
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| 12 | 12 | | AN ACT to amend Tennessee Code Annotated, Title 56, |
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| 13 | 13 | | relative to insurance discounts. |
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| 14 | 14 | | |
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| 15 | 15 | | BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF TENNESSEE: |
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| 16 | 16 | | SECTION 1. Tennessee Code Annotated, Title 56, Chapter 7, Part 1, is amended by |
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| 17 | 17 | | adding the following as a new section: |
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| 18 | 18 | | (a) As used in this section, "tangible personal property" means personal property |
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| 19 | 19 | | that may be seen, weighed, measured, felt or touched, or is in any other manner |
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| 20 | 20 | | perceptible to the senses. |
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| 21 | 21 | | (b) An insurance company that is admitted to do business in this state in |
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| 22 | 22 | | accordance with chapter 2, part 1, of this title, and insures the tangible personal property |
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| 23 | 23 | | of a policyholder who resides in this state, shall provide a discount to the policyholder |
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| 24 | 24 | | through the policyholder's homeowners or renters insurance policy if the policyholder |
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| 25 | 25 | | meets the requirements under subsection (c). The discount must be provided on a |
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| 26 | 26 | | recurring basis that aligns with the policyholder's billing cycle. The insurance company |
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| 27 | 27 | | shall provide notice and information about the discount described under this subsection |
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| 28 | 28 | | (b) to a policyholder with the policyholder's recurring bill. |
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| 29 | 29 | | (c) An insurance company shall provide the discount described under subsection |
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| 30 | 30 | | (b) to a policyholder if the policyholder: |
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| 31 | 31 | | (1) Does at least one (1) of the following for all firearms kept at the |
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| 32 | 32 | | property for which the policy applies: |
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| 33 | 33 | | (A) Secures the firearms in a firearm safe, as that term is defined |
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| 34 | 34 | | in § 67-6-358; or |
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| 35 | 35 | | |
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| 36 | 36 | | |
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| 37 | 37 | | - 2 - 002938 |
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| 38 | 38 | | |
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| 39 | 39 | | (B) Uses a firearm safety device, as that term is defined in § 67-6- |
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| 40 | 40 | | 358, for the firearms; and |
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| 41 | 41 | | (2) Requests to receive the discount in accordance with this section. |
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| 42 | 42 | | (d) This section does not require a policyholder to disclose the presence or |
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| 43 | 43 | | ownership of a firearm, or request the discount described under subsection (b). |
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| 44 | 44 | | SECTION 2. This act takes effect July 1, 2025, the public welfare requiring it, and |
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| 45 | 45 | | applies to agreements for homeowners or renters insurance issued, delivered, entered into, |
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| 46 | 46 | | amended, or renewed on or after that date. |
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