Rhode Island Code of Regulations
Title 230 - Department of Business Regulation
Chapter 20 - Insurance
Subchapter 05 - Personal Lines - Automobile and Homeowners Insurance
Part 13 - Property Insurance and Weather Related Claims (230-RICR-20-05-13)
Section 230-RICR-20-05-13.7 - Waiver of Deductible

Universal Citation: 230 RI Code of Rules 20 05 13.7

Current through September 18, 2024

A. If the insured installs the mitigation measures set forth in § 13.6 of this Part, the policy must provide that upon installation and use of such mitigation measure, subject to inspection by the i nsurer and/or submission of satisfactory proof of installation, the hurricane deductible applicable to the policy shall be waived.

B. If the insurer has reserved its rights to inspection or receive proof of installation, upon successful completion of that process the insurer may issue a new policy or modify its existing policy in accordance with statute and regulation to provide for waiver of the hurricane deductible.

C. An insured may elect in writing to decline the waiver of deductible, despite meeting the mitigation requirements delineated herein, in order to accept a lower policy premium. The writing should indicate the deductible to be applied and the difference in premium.

D. Insurers are required to provide clear and prominent notice of mitigation requirements and any change in mitigation requirements is considered a material change and is subject to Part 14 of this Subchapter.

E. If the insurer requires the installation of any of the mitigation measures delineated in § 13.6 of this Part, the insurer shall provide the following information to the insured in writing:

1. Explain the mitigation measure(s) which the insurer is requiring be installed.

2. Describe the credit to be applied to the premium (stated in terms of dollars) if the mitigation measure(s) is installed and used by the insured.

3. Affirmatively state the length of time during which the credit given for the mitigation measure(s) will apply.

4. That the insurer will not non-renew the insured as a result of a risk associated with a catastrophic loss.

F. In the event a Hurricane Deductible does not apply to a loss, an insurer may apply the all perils deductible as included in the policy to the loss.

Disclaimer: These regulations may not be the most recent version. Rhode Island may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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