AN ACT REQUIRING HOMEOWNERS INSURANCE COVERAGE FOR THE PERIL OF COLLAPSE FOR RESIDENTIAL BUILDINGS AFFECTED BY CRUMBLING FOUNDATIONS.

HB 5088 requires homeowners insurance policies in the state to cover the risk of a building collapsing due to crumbling foundations in residential buildings. The bill amends state insurance law to mandate this coverage as a standard part of all homeowners insurance policies. It directly affects homeowners in residential properties with foundation issues and insurance companies writing policies in the state. This policy change ensures that coverage for collapse risks caused by foundation deterioration is included without requiring separate endorsements.