Colorado Protections for Insured Homeowners

Colorado has numerous statutory protections for insured homeowners. One of the statutory protections the State of Colorado provides to insured homeowners is the Coloraodo Homeowner's Reform Act of 2013 (C.R.S. § 10-4-110.8) ("CHIRA")

Question: What protections and rights are included in CHIRA?

  • In the event of a total loss your insurer must offer you a minimum of 30% of your contents limits without making you submit a detailed itemized inventory list.
  • All endorsements, disclosure forms, and policies must not exceed the 10th grade reading level.
  • The insurer must consider an estimate from a licensed contractor or architect submitted by you, (the policyholder) as the basis for establishing the replacement cost of a dwelling.
  • The insurer must give you an electronic or paper copy of the entire policy including the declarations page and any endorsements within 3 business days after a loss, and upon your request, a “certified copy” within 30 days.
  • The insurer must make available to you the methodology used for depreciating the value of your personal property.
  • You will have at least a full year after a total loss to submit an inventory of lost or damaged property.
  • You will have a minimum of 365 days after you use up your Additional Living Expense benefits to replace property and recoup depreciation by collecting full replacement value.

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