SB 1141 Summary

• Adds new Part to Hawaii Revised Statutes Chapter 431, Article 10E establishing minimum homeowners insurance coverage requirements for losses due to catastrophic disasters declared by the governor.

• Requires insurers to allow policyholders to rebuild or relocate without denying building code upgrade or extended replacement costs, with payment calculations excluding land value.

• Mandates additional living expense coverage for at least 24 months with two possible 6-month extensions for reconstruction delays beyond the policyholder's control, and requires insurers to pay loss of use claims within 20 days of documentation.

• Requires insurers to offer 65% of contents coverage limits without inventory requirement for furnished residences with total loss, and provides 36 months (extendable twice by 6 months) to submit replacement receipts.

• Appropriates unspecified funding for fiscal years 2025-2026 and 2026-2027 to implement the Act, effective July 1, 2050, but applies to policies issued or renewed after December 31, 2025.