Establishes minimum limitations standards for structural property damage claims, and voids any policy provision, endorsement, condition, limitation, agreement, or claim practice that shortens those standards.

Plain-English Summary

This bill would establish minimum time limits for homeowners and property owners in Rhode Island to file insurance claims related to structural damage — such as damage to a house, building, or other physical structure. Currently, insurance companies can include language in their policies that sets shorter deadlines for policyholders to submit claims or take legal action. This bill would set a floor on those deadlines, meaning insurance companies could not use policy language, endorsements, or other contractual conditions to give policyholders less time than the minimum standard established by the bill.

The bill also includes a strong enforcement mechanism: any policy provision, agreement, or claims practice that tries to shorten these minimum time limits would automatically be considered void and unenforceable. In other words, even if an insurance policy contains fine print that imposes a shorter deadline, that fine print would have no legal effect in Rhode Island.

This bill primarily affects property owners — including homeowners, landlords, and business owners — who carry structural property damage insurance, as well as the insurance companies that sell those policies in the state. Property owners could benefit by having more time and clearer rules for pursuing claims after structural damage occurs. Insurance companies would need to review and potentially revise their policy language to comply with the new standards.

The bill has been referred to the House Corporations Committee, which has recommended holding it for further study, meaning it has not yet advanced through the legislative process.