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Bill > A3910


NJ A3910

NJ A3910
Requires home insurance companies to cover water damage caused by ground seepage, water or sewer pipe damage, or flooding.


summary

Introduced
02/27/2024
In Committee
02/27/2024
Crossed Over
Passed
Dead
03/04/2024

Introduced Session

2024-2025 Regular Session

Bill Summary

This bill requires home insurance companies to cover water damage caused by ground seepage, water or sewer pipe damage, or flooding. Under the bill, an insurer authorized to transact in the business of homeowners insurance will be required to include in every insurance policy covering a one-to-four-family dwelling, coverage for water damage caused by groundwater seepage, water or sewer pipe damage, or flooding. The bill will not be construed to prohibit an insurer from offering to continue coverage on different terms and conditions if the insured fails to reduce the risk of additional or future claims or losses, either by effecting necessary repairs or taking other remedial action.

AI Summary

This bill requires home insurance companies to cover water damage caused by ground seepage, water or sewer pipe damage, or flooding. Under the bill, insurers authorized to provide homeowners insurance in New Jersey must include coverage for these types of water damage in every policy covering a one-to-four-family dwelling. The bill also allows insurers to offer continued coverage on different terms if the insured fails to take necessary repairs or other remedial action to reduce the risk of additional or future claims or losses.

Committee Categories

Business and Industry

Sponsors (1)

Last Action

Withdrawn from Consideration (on 03/04/2024)

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