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, which must include a death certificate and specify the desired length of the grace period. During this grace period, any time delays for cancellation or nonrenewal of the policy will be extended accordingly.

Additionally, the bill clarifies that the grace period applies only to payments made directly by the insured to the insurer, excluding payments made through escrow arrangements with lending institutions. 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 bill is set to take effect on January 1, 2025.