Alabama Administrative Code
Title 482 - ALABAMA DEPARTMENT OF INSURANCE
Chapter 482-1-152 - PERSONAL PROPERTY BY-PERIL RATING REQUIREMENTS
Section 482-1-152-.07 - Requirement For Disclosure Of Separate Premiums By Peril On Declarations Page, Billing Statement, Or Policy Checklist
Current through Register Vol. 42, No. 5, February 29, 2024
(1) The requirements of this rule apply to homeowner, renters/tenants, and condominiums (unit owners) policies of new business with an effective date on or after January 1, 2018 and to existing homeowner policies at the time of renewal with a renewal date on or after January 1, 2018.
(2) The requirements of this rule apply to policies of new dwelling fire/extended coverage policies with an effective date on or after January 1, 2019 and to existing dwelling fire/extended coverage policies at the time of renewal with a renewal date on or after January 1, 2019.
(3) Separate premiums for hurricane coverage, all other wind/hail coverage, and all other perils coverage, as well as a total premium for the policy, shall be prominently displayed in one of the following manners:
(4) Premiums/rates for additional coverages, voluntary endorsements, or policy limits changes (other than coverage limits for dwelling or personal property, or changes indeductibles) are not required to be separated by peril. A single premium for all such endorsements combined may be displayed. If an endorsement only applies to one of the three peril groups that are the subject of this regulation, it is recommended that the premium for that endorsement be included in the separate peril group premium.
Authority: Commissioner of Insurance
Statutory Authority: Code of Ala. 1975, §§ 27-2-17, 27-13-1 et seq., 27-14-8 through 27-14-11.