SB 369 - Currently, if insured property is damaged by fire, insurers are prohibited from denying that the property was worth the amount the property was insured for at the time the policy was issued, and have the burden of proving any depreciation in value between the time the policy was issued and the time the loss occurred. This act removes the requirement that the damage have occurred by fire. This act is similar to HB 907 (2021) and provisions in the truly agreed to and finally passed SCS/HB 604 (2021).
ERIC VANDER WEERD