Bill > H902

This bill proposes to amend Chapter 175C of the General Laws in Massachusetts to establish new rules for deductible rates set by the Massachusetts Property Insurance Underwriting Association (MPIUA), which is an entity that provides property insurance in areas where it is difficult to obtain coverage. Specifically, the bill mandates that the MPIUA must limit the minimum deductible rates for its homeowners insurance policies covering damages caused by windstorms or hail. These deductibles, which are the amount an insured person pays out-of-pocket before their insurance coverage kicks in, will be capped at a maximum of 2% of the property's value statewide, or a maximum of $5,000 for a primary residence, whichever is less.