SB 452
Preventing home insurers from canceling policy for isolated event
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Sign in to take action- Introduced
- Passed Senate
- Passed House of Delegates
- To Governor
- Became Law
Bill overview
This bill aims to protect West Virginia homeowners by preventing their insurance companies from canceling or refusing to renew their policies simply because they filed a claim for a single, isolated event, such as a tree falling on their house. It ensures that homeowners can maintain their coverage even after experiencing a specific incident. The bill clarifies that insurers must offer to reinstate coverage for the non-canceled portion of the policy if it’s canceled. This legislation focuses on providing stability for homeowners facing unexpected events.
Key provisions
- Homeowners insurance cannot be canceled or denied renewal solely due to a single, isolated incident.
- Insurers must offer to reinstate coverage for the part of the policy not canceled.
- The inception date of a reissued policy aligns with the original combination policy's date.
- The bill amends existing regulations regarding cancellation and nonrenewal of insurance policies.
Who is affected
- Homeowners
- Homeowners insurance companies
- West Virginia residents
Notable changes
- Specifically prohibits cancellation based on ‘isolated incidents’.
- Requires insurers to offer reinstatement of coverage for non-canceled portions of the policy.
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