Establishes a minimum time frame of 36 months following loss due to declared disaster or emergency for the policyholder to submit documentation to recover full replacement cost value of covered dwelling or structure. Allows extensions for good cause. Establishes a minimum time frame of one year from completion of covered dwelling or structure for the policyholder to submit documentation to recover full replacement cost value of covered personal property. Requires homeowners insurers to give timely notice to policyholders to explain the time frames and extensions.