§ 27-1-13-17 — Residential policy restrictions

Indiana § 27-1-13-17

• Jurisdiction: Indiana
• Title 27: INSURANCE
• Art. 1: DEPARTMENT OF INSURANCE
• Ch. 13: Casualty, Fire, and Marine Insurance Company Powers

Text

(a) This section applies to a policy of
insurance that:
(1) covers first party loss to property located in Indiana; and
(2) insures against loss or damage to:
(A) real property consisting of not more than four (4)
residential units, one (1) of which is the principal place of
residence of the named insured; or
(B) personal property in which the named insured has an
insurable interest and that is used within a residential dwelling
for personal, family, or household purposes.
(b) A policy of insurance described in subsection (a) may not be
issued, renewed, or delivered to any person in Indiana if the policy
limits a policyholder's right to bring an action against an insurer to a
period of less than two (2) years from the date of loss.

Legislative History

As added by P.L.173-2007, SEC.10.