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 Rhode Island bill sets minimum time limits for how long homeowners and property owners have to file insurance claims related to structural damage — such as damage to the frame, foundation, walls, or roof of a building. In other words, it establishes a "floor" for how much time a policyholder must be given to bring a claim, ensuring that insurance companies cannot set shorter deadlines in the fine print of their policies.

The key feature of the bill is that it would automatically void — or cancel out — any part of an insurance policy that tries to give policyholders *less* time than the minimum standards the state sets. This includes not just policy language, but also endorsements, conditions, agreements, or claim-handling practices that effectively shorten those deadlines. The goal is to prevent insurers from quietly limiting a policyholder's window to file a claim through complicated contract language that most people may not notice or fully understand.

This bill would primarily affect homeowners, landlords, and commercial property owners in Rhode Island who carry property insurance, as well as the insurance companies that sell those policies. Property owners would potentially gain stronger protections and more time to discover and report structural damage, which can sometimes take months or years to become apparent. Insurance companies, on the other hand, may face changes to how they structure their policies and handle claims.

The bill has been referred to the Senate Commerce Committee and is currently being held for further study, meaning it has not yet advanced toward a final vote.