The bill amends Arkansas law to enhance the transparency of deductibles in residential property insurance policies. It introduces a new section, 23-79-169, which mandates that insurers disclose all applicable deductibles on the policy declaration page or the notice of renewal. This requirement aims to ensure that insured individuals can easily identify any deductibles associated with their policies.

Additionally, the bill specifies that if a residential property insurance policy includes separate deductible levels for different perils, these amounts must be clearly displayed alongside the overall deductible on the declaration page or renewal notice. This change is intended to provide clarity and help policyholders understand their financial responsibilities in the event of a claim.

Statutes affected:
Old version SB48 V2 - 1-28-2025 10:26 AM: 23-79-168