RS 22:1346.2: Requirement to offer stated value policy

A. Insurers offering residential property policies within this state may offer a stated value policy option to homeowners upon the request of the homeowner or his authorized agent, allowing for the insurance coverage to be based on a stated value of the residential property as declared by the homeowner or authorized agent, rather than solely on the market value of the property.

B. Any insurer that offers a stated value policy option to homeowners as provided in Subsection A of this Section shall prominently disclose stated value policy offerings in all insurance policy proposals, agreements, and renewal documents provided to consumers.