Property insurance: residential disclosure.

Existing law requires that residential property insurance policies do not become effective unless the named insured is provided with a copy of the California Residential Property Insurance Disclosure which sets forth a description of types of coverage, such as actual cash value coverage, guaranteed replacement cost coverage, and related coverage, as specified. Existing law also requires every California Residential Property Insurance Disclosure be accompanied by a California Residential Property Insurance Bill of Rights. This bill would, on July 1, 2011, revise the mandatory language of the California Residential Property Insurance Disclosure to simplify and rearrange the description of types of coverage, and to include additional information concerning insurance limits. It would also revise and simplify the California Residential Property Insurance Bill of Rights.