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Key: (1) language to be deleted (2) new language

  

                         Laws of Minnesota 1991 

                        CHAPTER 244-S.F.No. 1128 
           An act relating to insurance; providing for 
          replacement cost insurance coverage for personal 
          property; prohibiting insurers from requiring more 
          than one residential renter's insurance policy be 
          written to cover a single household; amending 
          Minnesota Statutes 1990, section 65A.10; proposing 
          coding for new law in Minnesota Statutes, chapter 65A. 
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: 
    Section 1.  Minnesota Statutes 1990, section 65A.10, is 
amended to read: 
    65A.10 [LIMITATION.] 
    Subdivision 1.  [BUILDINGS.] Nothing contained in sections 
65A.08 and 65A.09 shall be construed to preclude insurance 
against the cost, in excess of actual cash value at the time any 
loss or damage occurs, of actually repairing, rebuilding or 
replacing the insured property.  Subject to any applicable 
policy limits, where an insurer offers replacement cost 
insurance, the insurance must cover the cost of replacing, 
rebuilding, or repairing any loss or damaged property in 
accordance with the minimum code as required by state or local 
authorities.  In the case of a partial loss, unless more 
extensive coverage is otherwise specified in the policy, this 
coverage applies only to the damaged portion of the property. 
    Subd. 2.  [PERSONAL PROPERTY.] Subject to applicable policy 
limits, replacement cost insurance coverage for personal 
property must cover the cost of replacing or repairing any loss 
or damaged property.  In the case of a partial loss, unless more 
extensive coverage is otherwise specified in the policy, this 
coverage applies only to the damaged portion of the property.  
If a homeowner's policy does not provide replacement cost 
coverage for personal property, the declarations page of the 
policy shall so indicate by containing the term "nonreplacement 
cost".  
    Sec. 2.  [65A.44] [DEFINITIONS.] 
    Subdivision 1.  [APPLICATION.] The definitions in this 
section apply to this section and section 3. 
    Subd. 2.  [INSURER.] "Insurer" means an insurer licensed to 
write insurance and writing residential renter's insurance in 
this state. 
    Subd. 3.  [RESIDENTIAL RENTER'S INSURANCE 
POLICY.] "Residential renter's insurance policy" means insurance 
coverage normally written by the insurer as a standard 
residential renter's package policy.  
    Sec. 3.  [65A.45] [RESIDENTIAL RENTER'S INSURANCE POLICY.] 
    No insurer shall refuse to issue a single residential 
renter's insurance policy for the purpose of providing coverage 
to up to four individuals residing in the same household, if all 
of the individuals are named insureds on the policy and meet the 
insurer's normal underwriting requirements. 
    Presented to the governor May 24, 1991 
    Signed by the governor May 28, 1991, 9:54 a.m.