South Carolina S 212: Insurance policy renewal

Bill Text

2025-2026 Bill 212 Text of Previous Version (Jan. 15, 2025) - South Carolina Legislature Online 

South Carolina General Assembly
126th Session, 2025-2026

Bill 212

Indicates Matter Stricken
Indicates New Matter

(Text matches printed bills. Document has been reformatted to meet World Wide Web specifications.)

A bill

TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING 
SECTION 38-75-750, RELATING TO REQUIREMENTS FOR RENEWAL OF INSURANCE POLICIES, 
SO AS TO PROVIDE THAT AN INSURED MUST HAVE NOTICE OF AND GIVE WRITTEN CONSENT 
TO ANY INCREASE IN THE AMOUNT OF A DEDUCTIBLE PRIOR TO RENEWAL.

Be it enacted by the 
General Assembly of the State of South Carolina:

SECTION 1. Section 38-75-750 of the S.C. Code is amended to read:

 Section 
38-75-750. (a)(A) If an insurer intends to renew a policy, the insurer 
shall furnish renewal terms, and 
a statement of the amount of premium or estimated premium due, and the notice required by subsection (E), if applicable, 
for the renewal policy period and, if applicable, must 
receive the insured's written consent to any increase in the amount of the 
deductible in the manner required by this section.

 (b)(B) If the policy being renewed (hereinafter "original 
policy") is written for a term of one year or less, the renewal terms and 
statement of premium or estimated premium due must be furnished to the insured 
not less than thirty days prior to the expiration date of the original policy.

 (c)(C) If the original policy is written for a term of more 
than one year or for an indefinite term, the renewal terms and statement of 
premium or estimated premium due must be furnished to the insured not less than 
thirty days prior to the anniversary date of the original policy.

 (d)(D) The insurer may satisfy its obligation to furnish 
renewal terms and statement of premium or estimated premium due by either of 
the following methods:

 (1) 
mailing or delivering renewal terms and statement to the insured at his address 
shown in the policy or, if not reflected therein, at his last known address, 
not less than thirty days prior to expiration or anniversary; or

 (2) 
mailing or delivering renewal terms and statement to the agent of record, if 
any, not less than forty-five days prior to expiration or anniversary, along 
with instructions that the agent furnish the renewal terms and statement to the 
insured not less than thirty days prior to expiration or anniversary.

 (E) If an insurer intends to change 
the amount of an insured's deductible in the original policy, then the insurer 
shall, as soon as practicable, notify the insured in writing prior to the 
implementation of the change. Before any increased deductible is required to be 
paid by the insured, the increase must be expressly consented to in writing by 
the insured, provided that such consent is voluntary and is only given 
following receipt by the insured of written notice of all terms and conditions 
of the new contract of insurance.

 (e)(F) If the insurer fails to furnish the renewal terms, and statement of premium or 
estimated premium due, or the notice required by 
subsection (E), if applicable, in the manner required by this section or fails to receive consent pursuant to subsection (E), then the insured may elect to cancel the renewal policy 
within the thirty-day period following receipt of the renewal terms and 
statement of premium or estimated premium due. Earned premium for any period 
of coverage must be calculated pro rata based upon the premium applicable to 
the original policy and not the premium applicable to the renewal policy.

SECTION 2. This act takes effect upon approval 
by the Governor.

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This web page was last updated on January 15, 2025 at 01:23 PM