CODE OF VIRGINIA

(APPLICABLE TO NEW OR RENEWAL POLICIES ISSUED BEFORE JANUARY 1, 2017) REQUIRED
STATEMENT ON INSURANCE POLICIES FOR OWNER-OCCUPIED DWELLINGS (§ 38.2-2118)

Each insurer writing insurance on owner-occupied dwellings and appurtenant
structures with a replacement cost provision under the provisions of Chapter 19
(§ 38.2-1900 et seq.) of this title shall give each applicant for insurance a
statement summarizing: (i) any minimum coverage requirement necessary for the
replacement cost provision to be fully effective, and (ii) the effect on claim
payment of not meeting the minimum coverage requirement.

HISTORY: 1977, c. 530, § 38.1-279.49:1; 1986, c. 562.