AN ACT REQUIRING HOMEOWNERS INSURANCE COVERAGE FOR THE PERIL OF COLLAPSE.

This bill requires homeowners insurance policies to include coverage for the peril of collapse, meaning insurers must provide protection if a home collapses due to structural failure. It directly affects homeowners by ensuring this specific risk - such as from sinkholes, foundation failure, or severe weather - is covered under standard policies. The key mechanism is an amendment to insurance statutes mandating this coverage as a standard requirement, without specifying additional costs or exclusions. This change applies to all homeowners insurance policies sold in the state under the new rule.