California Insurance Code

§ 10086

INS § 10086 Effective Jan 1, 2020Div. 2 · Part 1 · Ch. 8.5

Statute text

(a)If an offer of earthquake coverage, made pursuant to Section 10081, is accepted, the coverage shall be continued at the applicable rates and conditions for the policy term, provided the policy of residential property insurance is not terminated by the named insured or insurer.

(1)At any renewal, an insurer may modify the terms and conditions of an existing policy, rider, or endorsement providing coverage against loss or damage caused by the peril of earthquake if the modified terms and conditions provide the minimum coverages required by Section 10089.

(2)If the modification referenced in paragraph (1) reduces or substantially differs from the coverage previously provided, an insurer shall provide the insured with the renewal offer required by Section 10083 and a stand-alone document stating the changes in the terms and conditions of the insured’s existing policy, rider, or endorsement.

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Legislative history

Amended by Stats. 2019, Ch. 201, Sec. 10. (AB 1813) Effective January 1, 2020.