AN ACT PROHIBITING THE USE OF GEOGRAPHIC LOCATION AS A FACTOR IN DETERMINING PREMIUM RATES.

SB 1005 prohibits insurance companies from using geographic location (such as zip code or neighborhood) as a factor when calculating insurance premium rates. This directly affects homeowners and renters whose insurance costs are currently influenced by where they live. The bill amends state insurance law to ban this specific practice, requiring insurers to base rates solely on other factors like driving history or property features. It aims to prevent location-based pricing that may disproportionately impact certain communities.