CA AB2756

Requires insurers to obtain signed acknowledgment from applicants if issuing new residential property insurance policies on or after July 1, 2021, that do not cover fire, and mandates prominent disclosure on declarations pages stating the policy does not cover fire along with information about California FAIR Plan and Home Insurance Finder.

Requires renewal offers that reduce limits or eliminate coverage to specifically identify which limits are being reduced or which coverage is being eliminated.

Mandates that open residential property insurance policies providing replacement cost coverage issued or renewed on or after July 1, 2021, include building code upgrade coverage of at least 10% of dwelling coverage limits as additional coverage.

Requires residential property insurance policies that do not provide building code upgrade coverage to include a statement on the declarations page stating "THIS POLICY DOES NOT INCLUDE BUILDING CODE UPGRADE COVERAGE."

Adds information about building code upgrade coverage to the California Residential Insurance Disclosure form and clarifies that actual cash value coverage deductions for physical depreciation apply only to structure components normally subject to repair and replacement during their useful life.