House Bill 1479 Summary

• Requires homeowners' insurance policies issued or renewed on or after January 1, 2026, to apply hurricane and named-storm deductibles on an annual basis to all covered losses during the calendar year, rather than per-occurrence.

• Allows insurers to apply a remaining deductible amount or the standard all-perils deductible (whichever is greater) to subsequent named-storm or hurricane losses within the same calendar year if multiple storms occur.

• Mandates the Insurance Commissioner prescribe a standard form disclosing hurricane, named-storm, and wind-and-hail deductibles for new policies, with required policyholder signature; insurers must provide updated forms only when deductible percentages change.

• Brings forward existing Mississippi Code sections governing insurance rates, catastrophe savings accounts (allowing tax-deferred savings up to $350,000 for self-insured homeowners), hurricane damage mitigation programs, windstorm deductible buyback provisions, and Mississippi Windstorm Underwriting Association mitigation discounts.

• Effective July 1, 2025.