Credit Property Insurance Restrictions.-AB

SB 270 prohibits credit property insurance policies (which cover vehicles used as loan collateral) from including specific automobile physical damage coverages. It bans coverage for repossession costs, "skip/confiscation/conversion" scenarios, deductibles under $250, and broader coverage than minimum state requirements. Borrowers would no longer have these excluded coverages bundled into their credit insurance, though insurers could offer them separately without charging borrowers. If enacted, the law would apply to new or renewed insurance contracts after its effective date.