Sec. 6. (a) As used in this chapter, "material change" means:
(1) an increase of more than ten percent (10%) over the expiring premium for; or
(2) another adverse or unfavorable change in the terms of coverage or amount of;
insurance in connection with a personal automobile or homeowner's policy.
(b) The term does not include the following:
(1) An increase in the insurer's filed rate plan and automatic inflationary increases.
(2) An additional premium due to a change initiated by the insured, such as:
(A) adding or removing vehicles or drivers;
(B) adding an endorsement;
(C) adding additional coverages;
(D) adding covered premises; or
(E) increasing coverage limits or deductibles.
(3) An additional premium due to a change in risk exposure as a result of the insured's participation in a usage based or telematics insurance program.
(4) Changes resulting from a property inspection.