This bill enacts a new provision, R.S. 22:1339, which addresses homeowners' insurance policies in Louisiana. It specifically prohibits insurers from including the value of unimproved land within the coverage limits of policies that provide protection for loss or damage to improvements on immovable property.

Under this new regulation, insurers are not allowed to deliver, issue, or renew any homeowner's insurance policy that covers improvements while also factoring in the value of the underlying unimproved land. This aims to clarify the scope of coverage and ensure that homeowners are not paying for insurance that includes land value, which is not subject to the same risks as the improvements themselves.