The insured's use of the residence premises for remote work under an agreement with the insured's employer. The rental of a part of the residence premises as an office, school, or studio orĥ. The rental of a part of the residence premises as a private garage Ĥ. The rental or holding for rental of a part of the residence premises for no more than two roomers or boarders for use as a primary residence ģ. The occasional rental of the whole or a part of the residence premises for dwelling purposes Ģ. "Business" means a trade, profession, or occupation whether full-time, part-time, or occasional activity, including (i) farming, (ii) the rental of the whole or a part of the residence premises by an insured, (iii) the business use of part of the residence premises, or (iv) home-sharing.ġ. "Aircraft" means a machine or device capable of atmospheric flight, including hobby or model aircraft, drones, self-propelled missiles, and spacecraft. "Actual cash value" means the amount equal to the replacement cost minus depreciation of damaged or stolen property at the time of the loss. The following words and terms when used in this chapter shall have the following meanings unless the context clearly indicates otherwise: If a provision of this chapter or its application to a person or circumstance is for any reason held to be invalid by a court, the remainder of this chapter and the application of the provisions to other persons or circumstances shall not be affected. Insurers may use any policy language that is not less favorable to the insured and complies with provisions of this chapter. Insurers may provide broader and more favorable coverages, terms, and conditions than those set forth in this chapter. Policies and endorsements shall not be less favorable than the provisions set forth in this chapter. Insurers shall file with the commission all policies or endorsements for approval before use.į. Primarily insure the personal property of renters.Į.
#Limited hidden water or steam seepage or leakage coverage code#
Are issued pursuant to Chapter 48 (§ 38.2-4800 et seq.) of Title 38.2 of the Code of Virginia orĦ. Are issued pursuant to Chapter 27 (§ 38.2-2700 et seq.) of Title 38.2 of the Code of Virginia ĥ. Insure manufactured homes as defined in § 46.2-100 of the Code of Virginia, except for policies insuring manufactured homes as defined in § 46.2-653.1 of the Code of Virginia Ĥ.
This chapter does not apply to policies that:ģ. No insurer shall represent to a prospective purchaser or a policyholder that a dwelling property policy subject to the provisions of this chapter is a homeowners policy as defined in § 38.2-130 of the Code of Virginia.ĭ. Insurers and rate service organizations shall submit filings for compliance with this chapter no later than December 31, 2022.Ĭ. Compliance with this chapter is required for policies delivered or issued for delivery in Virginia with effective dates on and after July 1, 2023. This chapter applies to insurers licensed to do business in Virginia and issuing policies of dwelling property insurance pursuant to the provisions of Chapter 21 (§ 38.2-2100 et seq.) of Title 38.2 of the Code of Virginia.ī. This chapter sets forth the standards of content for policies of dwelling property insurance covering solely owner-occupied dwellings, including condominium units. Rules Governing Standards for the Content of Dwelling Property Insurance PoliciesĪ.