38.2-2127 - Notice of change in deductible. - Virginia Statutes

§ 38.2-2127. Notice of change in deductible.

Whenever an insurer unilaterally changes the deductible under a policywritten to insure an owner-occupied dwelling, the insurer shall provide awritten notice that (i) explicitly states that the deductible has changed and(ii) explains how the new deductible will be applied. Nothing in this sectionshall allow an insurer to change a deductible except at renewal. This sectionshall apply to all policies renewed in the Commonwealth on or after October1, 2004.

(2004, c. 745.)