This bill enacts new provisions under R.S. 22:1335(C) through (H) to establish a grace period for surviving spouses regarding the payment of homeowner's insurance premiums. Specifically, it mandates that insurers provide a maximum grace period of sixty days for the payment of semi-annual or annual premiums upon receiving a request from a surviving spouse. The bill outlines the requirements for this grace period, including the necessity for the surviving spouse to submit a written notice that includes a copy of the deceased spouse's death certificate and a specification of the requested grace period length.

Additionally, the bill clarifies that the grace period applies only to payments made directly by the insured to the insurer, excluding payments made through lending institutions or financial intermediaries. It also states that the grace period does not create a private right of action for the insured, although the commissioner may consider a failure to grant a properly documented request as a violation of existing law. The provisions will take effect on January 1, 2025.