HI SB2960

Policyholders affected by declared disasters or emergencies receive a minimum of 36 months from the first actual cash value payment to submit documentation and collect full replacement cost value for dwellings or structures.

Six-month extensions are available for good cause, including permit delays, contractor shortages, supply chain disruptions, financing delays, or government-imposed construction moratoriums, for up to 60 months total.

Policyholders have 12 months after completing repairs or rebuilding to submit documentation for full replacement cost value of personal property.

Homeowners insurers must provide written notice within 30 days of a declared disaster explaining the time frames, extension availability, and request procedures.

The act takes effect July 1, 2050, and was prompted by recovery challenges from the 2023 Maui wildfires, which revealed gaps in insurance timelines for Hawaii's unique rebuilding circumstances.