Prohibits increases in rates of homeowners' insurance in excess of twenty-five percent per year

This bill limits annual increases for homeowners' insurance rates to 25% or less unless the policyholder specifically agrees to a higher increase in writing before the policy is issued or renewed. It directly affects homeowners with standard residential insurance policies by restricting how much insurers can raise their premiums each year. The key provision requires insurers to obtain explicit prior agreement from policyholders to exceed the 25% annual rate hike limit. The law applies to all policies issued, renewed, modified, or amended on or after its effective date, which is 90 days after enactment.