The bill enacts a new provision, R.S. 22:1339, which specifically addresses homeowners' insurance policies in Louisiana. It prohibits insurers from delivering, issuing, or renewing any homeowner's insurance policy that includes coverage for loss or damage to improvements on immovable property if the policy also includes the value of the unimproved land within its coverage limits.

This legislation aims to clarify the coverage parameters for homeowners' insurance, ensuring that the value of unimproved land is not factored into the insurance coverage for improvements. By doing so, it seeks to protect both insurers and policyholders from potential disputes regarding the valuation of property in insurance claims.