May 21, 2013
FOLEY, Ala. (AP) -- Alabama's governor visited the Gulf coast to promote new laws designed to make homeowner's insurance more accessible and affordable.
Robert Bentley told Foley residents Wednesday that the seven new laws include recommendations from the Governor's Affordable Homeowners Insurance Commission. One law allows homeowners to establish a catastrophe savings account to pay a higher deductible, which would help lower the cost of their insurance. Another law gives tax credits to insurance companies that write policies in certain areas of Alabama's two coastal counties.
Another gives the public more access to information about an insurance company's policies and losses in Alabama.
A state senator who sponsored some of the legislation, Ben Brooks of Mobile, said the new laws represent a significant step, but more needs to be done concerning insurance affordability.
