Relating to recoverable depreciation for property damage claims under an insurance policy.

HB 4268 requires insurers to allow policyholders to recover depreciation withheld from property damage claims until two years after the claim payment date. This directly affects homeowners and businesses filing insurance claims for covered property damage. The bill prohibits insurers from counting recoverable depreciation toward defense costs or deducting it from coverage limits. It applies only to policies delivered, issued, or renewed on or after January 1, 2026, with the law taking effect September 1, 2025. The change aims to ensure policyholders receive full claim amounts for property repairs or replacements.