65A.295 HOMEOWNER'S INSURANCE COVERAGE.
126 words·~1 min read·
/mn/chapter-65/65a-295A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
65A.295 HOMEOWNER'S INSURANCE COVERAGE.
(a)Every insurer writing homeowner's insurance in this state shall make available at least one form of homeowner's policy for each level of peril coverage offered by the insurer in which the insured has the option to specify the dollar amount of coverage provided for structures other than the dwelling and for personal property. The premium must be reduced to reflect the reduced risk of lesser coverage.
(b)Coverage for structures other than the dwelling is the coverage provided under "Coverage B, Other Structures" in the standard homeowner's policy. Coverage for personal property is the coverage provided under "Coverage C, Personal Property" in the standard homeowner's package policy.
(c)"Level of peril" refers to basic, broad, and all risk levels of coverage.