§ 515D.2 — Definitions

Iowa § 515D.2

• Jurisdiction: Iowa
• Title XIII: COMMERCE
• Ch. 515D: AUTOMOBILE INSURANCE CANCELLATION CONTROL

Text

As used in this chapter, unless otherwise required by the context:
1. “Policy” means an automobile insurance policy providing bodily injury liability,
property damage liability, medical payments, uninsured motorist coverage, physical damage
coverage, or any combination thereof, delivered or issued for delivery in this state, insuring
a single individual or one or more related individuals resident in the same household, as
named insured, and insuring vehicles of the following types only:
a. Motor vehicles of the private passenger or station wagon type which are not used as
public conveyances nor rented to others.
b. Any other four-wheel motor vehicles with a load capacity of one thousand five hundred
pounds or less which are not used in the business or profession of the insured.
2. “Renewal” or “to renew” means the issuance and delivery by an insurer of a policy
replacing at the end of the previous policy term a policy previously issued and delivered by
thesameinsurer, ortheissuanceanddeliveryofacertificateornoticeextendingthecoverage
of the policy beyond its original term.
a. Anyrenewalpolicy, otherthanareplacementpolicyforanunfinishedterm, withaterm
of six months or less shall be considered written, for the purposes of this chapter, for a term
of six months.
b. Any policy written for a term longer than one year or with no fixed expiration date shall
be considered written for successive policy terms of one year.
3. “Nonpayment of premium” means failure of the named insured to discharge when due
any of the named insured’s obligations in connection with the payment of premiums on the
policy, or any installment of a premium, whether the premium is payable directly to the
insurer or its agent or indirectly under any premium finance plan or extension of credit.

Legislative History

[C71, 73, 75, 77, 79, 81, §515D.2]