California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 7.5 - Unfair or Deceptive Acts or Practices in the Business of Insurance
Article 1.3 - Valuation of Homes
Section 2695.181 - Standards for Real Estate Appraisers

Universal Citation: 10 CA Code of Regs 2695.181
Current through Register 2024 Notice Reg. No. 38, September 20, 2024

Subdivision (d) of Insurance Code 1749.85 provides that if the Department of Insurance, by adopting a regulation, establishes standards for the calculation of estimates of replacement value of a structure by appraisers, then on and after the effective date of the regulation a real estate appraiser's estimate of replacement cost shall be calculated in accordance with the regulation. A real estate appraiser, whether or not a licensee, shall not estimate the replacement cost of a structure for use in connection with a homeowner's insurance policy unless the estimate of replacement cost complies with the provisions of subdivisions (a) through (e) of Section 2695.183. Appropriate licensure by the Department of Insurance is required in order to lawfully explain levels of coverage under a homeowners' insurance policy.

1. New section filed 12-29-2010; operative 6-27-2011 pursuant to Government Code section 11343.4(b) (Register 2010, No. 53).

Note: Authority cited: Sections 35, 790.10, 1631, 1633, 1749.7, 1749.85 and 2051.5, Insurance Code. Reference: Sections 35, 790.03, 1631, 1625, 1625.5, 1633, 1749.85, 2051.5, 10087 and 10104, Insurance Code.

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