As I have been reviewing legislation that was introduced during the first week of the legislative session here in Colorado, House Bill 12-1057 (“HB 1057”) caught my attention. The bill, as introduced by Representative Claire Levy, seems to be aimed at ensuring that folks carry adequate homeowner’s insurance. 

While this bill is not directed toward HOAs, many associations (particularly condominium associations) have been forced to deal with homeowners who carry inadequate coverage and then expect their associations to pick-up the deficiency not covered by their HO 6 insurance policies. While I will be surprised if HB 1057 is ultimately signed into law, the bill would require the Insurance Commissioner to adopt the following rules relating to homeowner’s insurance: (1) the criteria and requirements for estimates of replacement value of insured property; and (2) educational requirements for insurance producers related to homeowner’s insurance – including estimating replacement values.

HB 1057 would also require that homeowner’s insurance policies “. . . must include coverage for additional living expenses. This coverage must be available for a period of twenty-four months. . .” The bill further sets standards for covering lost contents of a home in the event of a total loss.


We’ll keep an eye on HB 1057 and will provide with you with updates of interest as it proceeds through the legislative process.