Amends TCA Title 56.
Tennessee HB1240 mandates that insurance companies providing homeowners or renters insurance in the state must offer a discount to policyholders who secure their firearms in a safe or use a safety device, effective for policies issued or renewed on or after July 1, 2025. The bill affects policyholders residing in Tennessee and requires insurance companies to inform them about the discount in their billing statements. Key provisions include the requirement for the discount to be recurring and the stipulation that policyholders are not obligated to disclose firearm ownership to receive it.
Tennessee HB1240 mandates that insurance companies providing homeowners or renters insurance in the state must offer a discount to policyholders who secure their firearms in a safe or use a safety device, effective for policies issued or renewed on or after July 1, 2025. The bill affects policyholders residing in Tennessee and requires insurance companies to inform them about the discount in their billing statements. Key provisions include the requirement for the discount to be recurring and the stipulation that policyholders are not obligated to disclose firearm ownership to receive it.
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Helton-Haynes, Esther
114th General Assembly
February 6, 2025
March 19, 2025
Taken off notice for cal in s/c Insurance Subcommittee of Insurance Committee