MN HF2315

Amends Minnesota Statutes section 65A.10, subdivision 1, regarding replacement cost insurance coverage for buildings.

Requires replacement cost insurance to cover the cost of replacing, rebuilding, or repairing damaged property in accordance with minimum code requirements set by state or local authorities.

Prohibits insurers from conditioning coverage on requiring property to be rebuilt at its original location if zoning or land use regulations require the structure to be relocated.

For partial losses, coverage applies to damaged portions and includes incidental or consequential repairs to undamaged portions necessary to satisfy minimum code requirements.