DE SB202

Requires all insurers writing residential property insurance in Delaware to provide clear and prominent notice to policyholders about wind, hail, and hurricane deductibles.

Notice must be provided with the first renewal on or after January 1, 2013 for existing policies, and at first issuance and after any insurer-initiated deductible changes for new policies issued on or after January 1, 2013.

Notices must clearly disclose deductible details including the trigger and whether stated as a percentage or dollar amount, and must include an example showing how percentage deductibles apply (e.g., 2% deductible on $300,000 home equals $6,000 out-of-pocket).

Applies only to residential property insurance covering one to four-family dwellings, condominiums, tenant personal property, and manufactured homes; excludes commercial property policies.

Effective for all residential property insurance policies issued or renewed on or after January 1, 2013.