No policy may be canceled except by notice to the insured as provided in this chapter. No notice of cancellation of a policy shall be effective unless it is based on one or more of the following reasons:
1. Nonpayment of premium.
2. Nonpayment of dues to an association or organization other than an insurance association or organization, where payment of dues is a prerequisite to obtaining or continuing insurance in force and the dues payment requirement was in effect prior to January 1, 1969.
3. Fraud or material misrepresentation affecting the policy or the presentation of a claim.
4. Violation of terms or conditions of the policy.
5. The named insured or any operator who either resides in the same household or customarily operates an automobile insured under the policy has that person's driver's license suspended or revoked during the policy term or, if the policy is a renewal, during its term or the one hundred eighty days immediately preceding its effective date.
This section shall not apply to any policy or coverage which has been in effect less than sixty days at the time notice of cancellation is mailed or delivered by the insurer unless it is a renewal policy. This section shall not apply to the nonrenewal of a policy.
During the policy period no modification of automobile physical damage coverage, except coverage for loss caused by collision, whereby provision is made for the application of a deductible amount not exceeding one hundred dollars shall be deemed a cancellation of the coverage or of the policy.
[C71, 73, 75, 77, 79, 81, § 515D.4]
Iowa General Assembly
Search: Iowa Code 1995
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