The bill amends the Michigan Insurance Code of 1956 by adding a new section, 2132a, which mandates that insurers providing home insurance policies must offer an actuarially justified premium discount or adjustment to policyholders who build or retrofit their properties to meet specific standards. To qualify for this discount, the property must be in a condition eligible for home insurance coverage and adhere to fortified roof standards established by the Insurance Institute for Business and Home Safety (IBHS) or a successor entity. Additionally, properties must be inspected and certified by an IBHS certified evaluator, and the insured must present this certification to their insurer.

The provisions of this section will only apply to insurance policies issued or renewed after December 31, 2027. The bill also clarifies that insurers are not prohibited from offering additional discounts beyond those specified. Furthermore, the enactment of this bill is contingent upon the passage of two other specified bills from the 103rd Legislature.

Statutes affected:
Senate Introduced Bill: 500.100, 500.8302