SB 2961: HOMEOWNERS INSURANCE; ADDITIONAL LIVING EXPENSES; ALE BENEFITS; LEASE OF TEMPORARY PRIMARY RESIDENCE; ADVANCE PAYMENTS; EXTENDED COVERAGE; STATE OF EMERGENCY

Requires homeowners insurance policies to permit an insured who sustains a total loss to apply additional living expenses benefits toward the lease of a housing unit to serve as the insured's temporary primary residence.  Requires insurers to pay an advance of at least 4 months of additional living expenses benefits after a total loss to an insured's primary dwelling caused by a covered peril that occurred pursuant to a state of emergency.  Requires homeowners insurance policies to provide additional living expenses benefits for a minimum of 36 months in the event of a total loss that occurred during a state of emergency.  Provides for extensions of additional living expenses benefits under certain conditions.  Effective 7/1/2050.  (SD1)