California Insurance Code

§ 10103.2

INS § 10103.2 Effective Jan 1, 2020Div. 2 · Part 1 · Ch. 10

Statute text

(a)On and after July 1, 2020, upon an offer of a policy of residential property insurance, a disclosure shall be provided to the applicant that states policies offering extended replacement cost coverage of at least 50 percent may be available for that property and that includes the internet website address of the department’s Homeowners Coverage Comparison Tool, pursuant to the following conditions:

(1)If an insurer does not offer at least 50 percent above the residential dwelling coverage limit to the applicant, the insurer shall provide the disclosure.

(2)If an insurer, utilizing an agent or broker, does not offer an applicant at least 50 percent above the residential dwelling coverage limit to the applicant, the insurer, agent, or broker shall provide the disclosure.

…

Legislative history

Amended by Stats. 2019, Ch. 201, Sec. 11. (AB 1813) Effective January 1, 2020.