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  "contentVersion": "2026.08.31",
  "generatedFor": "2026-09-06",
  "operator": {
    "legalName": "WJB Services, Inc.",
    "dba": "Bollinsure Insurance Services",
    "license": "6013787",
    "licenseAuthority": "California Department of Insurance"
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  "license": "Text on this page may be quoted with attribution and a link to the canonical URL.",
  "notice": "Public page facts only. This record contains no visitor question, no tool input, and no identifier. It is not a coverage determination, an eligibility decision, or individualized advice.",
  "title": "California Insurance Code section 2051.5 (replacement cost measure of indemnity and time to collect)",
  "publisher": "California Legislative Counsel (leginfo.legislature.ca.gov)",
  "url": "https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS&sectionNum=2051.5.",
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  "jurisdiction": "CA",
  "publishedDate": "unknown",
  "effectiveDate": "unknown",
  "accessedDate": "2026-08-31",
  "lastChecked": "2026-08-31",
  "updateCadence": "Changes only by California legislation; leginfo reflects the current operative text. Recently amended, so re-check before each publication cycle.",
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  "supportsClaims": [
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      "checksum": "0e85f7d4de57",
      "text": "Under an open policy that requires payment of replacement cost, the measure of indemnity is the amount that it would cost the insured to repair, rebuild, or replace the thing lost or injured, without a deduction for physical depreciation, or the policy limit, whichever is less."
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    {
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      "checksum": "39c6d381d6dc",
      "text": "A time limit of less than 12 months from the date that the first payment toward the actual cash value is made shall not be placed upon an insured to collect the full replacement cost of the loss."
    },
    {
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      "text": "In the event of a loss relating to a state of emergency, as defined in Section 8558 of the Government Code, a time limit of less than 36 months from the date that the first payment toward the actual cash value is made shall not be placed upon the insured."
    },
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      "text": "The section provides that on and after July 1, 2026, all policy forms issued or renewed by an insurer shall comply with this section in its entirety."
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      "text": "The amendment note on the page reads Amended by Stats. 2025, Ch. 542, Sec. 2. (SB 495) Effective January 1, 2026."
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      "kind": "Question",
      "title": "What is the difference between replacement cost and market value?",
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  "citation": {
    "text": "California Legislative Counsel (leginfo.legislature.ca.gov). \"California Insurance Code section 2051.5 (replacement cost measure of indemnity and time to collect).\" unknown. https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=INS&sectionNum=2051.5. (retrieved 2026-08-31).",
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