HI SB2126

Requires landlords to offer tenants alternatives to traditional security deposits upon request, including rental security insurance or a surety bond.

Rental security insurance must be provided by an approved carrier licensed by the insurance division of the department of commerce and consumer affairs, with coverage effective upon first premium payment for the entire lease term.

Insurance coverage per claim must equal at least the amount the landlord requires for a security deposit.

Alternatively, landlords must accept a surety bond in an amount equal to the total security deposit.

Takes effect July 1, 2040.