Insurance policy renewals in South Carolina require insurers to notify policyholders of renewal terms and premium amounts.

This bill amends South Carolina law to ensure insurers provide policyholders with renewal terms and premium information at least thirty days before policy expiration. For policies lasting a year or less, this notice must be sent thirty days prior to expiration. For longer-term policies, insurers must notify policyholders thirty days before the anniversary date. Insurers must also receive written consent for any deductible increases. If insurers fail to provide proper notice or consent, policyholders can cancel the renewal within thirty days of receiving the renewal terms.

Insurance policy renewals in South Carolina require insurers to notify policyholders of renewal terms and premium amounts.

This bill amends South Carolina law to ensure insurers provide policyholders with renewal terms and premium information at least thirty days before policy expiration. For policies lasting a year or less, this notice must be sent thirty days prior to expiration. For longer-term policies, insurers must notify policyholders thirty days before the anniversary date. Insurers must also receive written consent for any deductible increases. If insurers fail to provide proper notice or consent, policyholders can cancel the renewal within thirty days of receiving the renewal terms.