Virginia Administrative Code
Title 14 - INSURANCE
Agency 5 - STATE CORPORATION COMMISSION, BUREAU OF INSURANCE
Chapter 342 - RULES GOVERNING STANDARDS FOR THE CONTENT OF HOMEOWNERS INSURANCE POLICIES
Section 14VAC5-342-80 - Conditions applicable to property coverage
Universal Citation: 4 VA Admin Code 5-342-80
Current through Register Vol. 41, No. 3, September 23, 2024
A. Insurers shall include the following statutory conditions:
1. The nuclear clause
set forth in § 38.2-2102 of the Code of Virginia.
2. The conditions set forth in §
38.2-2104 of the Code of Virginia:
a.
Assignment of the policy.
b. The
time that coverage begins and ends.
3. The conditions set forth in §
38.2-2105 of the Code of Virginia:
a.
Abandonment.
b.
Appraisal.
c. Mortgagee interests
and obligations.
d. Pro rata
liability.
e. Requirements in case
loss occurs.
f. Suit.
g. When loss payable.
B. Insurers may include any of the following conditions:
1. The insured shall
notify the police when loss is by theft.
2. A bailee for hire shall not benefit under
the policy.
Statutory Authority: §§ 12.1-13, 38.2-223, and 38.2-2108 of the Code of Virginia.
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