§ 65A.302 — Flood Insurance Coverage; Disclosure of Noncoverage
Plain-Language Summary
This section requires homeowners insurance companies to give policyholders a written notice each year explaining that their policy does not cover flood damage and directing them to the National Flood Insurance Program for flood coverage. The notice must appear in at least 18-point type and include contact information to inquire about purchasing flood insurance.
65A.302 FLOOD INSURANCE COVERAGE; DISCLOSURE OF NONCOVERAGE.
Every insurer shall annually provide a written notice to the policyholder entitled “Important Information About Damage Caused by Flooding.” This title must be in at least 18-point type. The notice must disclose that the policy does not cover damage caused by flooding and disclose sufficient information to allow the policyholder to contact the National Flood Insurance Program to inquire about purchasing flood insurance. The following language satisfies the notice requirements of this section:
“The policy does not cover damage to your property caused by flooding. Flood insurance is available to communities and property that participate in the National Flood Insurance Program (“NFIP”). Not all communities participate in the NFIP. Flood insurance may be available even if you do not live in a flood hazard area as defined by the NFIP. If your community does not participate in the NFIP, you may contact your insurance agent or broker to see if there is other flood insurance coverage available to you.”
The disclosure may also inform the policyholders that the insurer offers flood insurance as a participant in the NFIP’s “Write Your Own” program.
History:
History: History:
2008 c 293 s 1