Bill Text: IL HB5357 | 2023-2024 | 103rd General Assembly | Engrossed
Bill Title: Amends the Illinois Insurance Code. Provides that in response to all applications for homeowners insurance received by an insurance company, the insurance company shall provide the applicant information regarding the availability of coverage for loss caused by a sewer backup or overflow from a sump pump, including the coverage limits and costs thereof. Provides that at least 30 days prior to each renewal of any policy of homeowners insurance, the insurance company shall provide the insured with information regarding the insured's existing coverage and available coverage for loss caused by a sewer backup or overflow from a sump pump, including the coverage limits and costs thereof. Effective January 1, 2025.
Spectrum: Moderate Partisan Bill (Democrat 18-2)
Status: (Engrossed) 2024-05-22 - Senate Floor Amendment No. 1 Motion to Concur Recommends Be Adopted Insurance Committee; 014-000-000 [HB5357 Detail]
Download: Illinois-2023-HB5357-Engrossed.html
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| 1 | AN ACT concerning regulation.
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| 2 | Be it enacted by the People of the State of Illinois, | ||||||
| 3 | represented in the General Assembly:
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| 4 | Section 5. The Illinois Insurance Code is amended by | ||||||
| 5 | adding Section 143.10f as follows:
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| 6 | (215 ILCS 5/143.10f new) | ||||||
| 7 | Sec. 143.10f. Homeowner's insurance policy; sewer backup | ||||||
| 8 | and sump pump overflow. | ||||||
| 9 | (a) In this Section, "homeowner's insurance policy" means | ||||||
| 10 | personal multi-peril property insurance policies covering real | ||||||
| 11 | property used principally for residential purposes or any | ||||||
| 12 | household or personal property that is usual or incidental to | ||||||
| 13 | the occupancy of any premises used for residential purposes. | ||||||
| 14 | (b) When issuing or quoting a homeowner's insurance | ||||||
| 15 | policy, an insurer shall disclose whether the homeowner's | ||||||
| 16 | insurance policy covers damage from a sewer backup or overflow | ||||||
| 17 | from a sump pump. If the homeowner's insurance policy being | ||||||
| 18 | issued does not cover damage caused by a sewer backup or | ||||||
| 19 | overflow from a sump pump, the insurer shall offer the insured | ||||||
| 20 | the opportunity to purchase additional coverage for damage | ||||||
| 21 | caused by a sewer backup or overflow from a sump pump. The cost | ||||||
| 22 | of the additional coverage shall be clearly communicated to | ||||||
| 23 | the insured at the time the opportunity to purchase the | ||||||
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