HB25-1182 (Risk Model Use in Property Insurance Policies)

Colorado HB25-1182 is an effort to help reduce and mitigate property insurance costs.

The Bill has several components. However, the crux of HB25-1182 is to compel insurance carriers and underwriters to account for fire mitigation strategies implemented by property owners and communities when issuing, renewing (or nonrenewing), and pricing property insurance. Property-specific fire mitigation measures and/or community-level mitigation efforts must be factored into the “wildfire risk score” assigned to the property by the insurance carrier. Wildfire risk scores must also be disclosed to the insured (property owner). Owners would then have the right to appeal or challenge the wildfire risk score/classification if the owner believes the score is inaccurate and provides evidence of additional mitigation efforts that should be considered. Determine your wildfire risk here.