MS SB2715

Create the "Homeowner's Insurance Cost Disclosure Act" requiring homeowners insurance carriers to include a clear written disclosure with annual renewal packages showing the costs of each coverage type in the policy.

Require carriers to express coverage costs as both the actual rate per $1,000 of coverage and the total dollar cost for each item of coverage included in the policy.

Define homeowners policy to include all residential dwellings offered for insurance against risks or loss, including single/multifamily homes, mobile homes, and manufactured homes.

Authorize the Commissioner of Insurance to adopt a standard form for the cost disclosure required by this act.

Effective date of July 1, 2011.