ND HB1302

Amends North Dakota Century Code section 26.1-39-05 regarding property and casualty insurance for real property with complete loss caused by covered perils.

Changes the 90-day waiting period for full policy value payment to 60 days after policy effective date or after policy limits are increased by 25% or more at the insured's request.

During the first 60-day period, loss payment is limited to the lesser of full policy value or the amount paid according to policy provisions as if a partial loss occurred.

Exempts from the 60-day restriction: renewal policies with less than 25% limit increases, policies where limits increased 25% or more due to construction additions, and policies where increased limits were approved by the insurer before the loss.

Maintains existing provisions for builder risk policies valued by completed construction portion and proportional contribution among multiple insurers in cases of double insurance.