If a proposed bill is passed by the Texas House of Representatives it could have some positive consequences for homeowners in the Lone Star State. Among other things, the bill proposes to change how claim disputes are mediated and settled, removes the maximum replacement value of an insured home, and eliminates the requirement that homeowners buy flood insurance.
How the Changes Could Affect Texas Home Insurance Quotes
It’s clear that homeowner quotes in Texas will be more flexible if the bill passes. Without a flood insurance requirement, a homeowner quote could be several hundred dollars less per year, while removing the cap on the replacement values of insured homes would allow more affluent homeowners to get homeowner quotes that reflect the true value of their homes. And though not reflected in homeowner quotes, better regulations for dispute mediation will most likely be to the consumers’ benefit.
Be Realistic When Requesting Homeowner Quotes
Despite the prospect of more flexible insurance legislation, homeowners should remain realistic when requesting homeowner quotes. Even if a homeowner can save cash on his premiums by not adding flood insurance to his policy, if his home is located in a flood-prone area, he’s best advised to get flood insurance to cover the costs of damages in the event of a flood. For any homeowner, it’s a smart idea to compare homeowner quotes periodically to find out if there’s a better insurance deal available. An online comparison site like AgentInsure allows homeowners to request and compare homeowner quotes free of charge before selecting the policy that offers the desired amount and type of coverage at an affordable price.
Homeowner Basics: Exploring your Home Insurance Options
As a homeowner, you have a lot of decisions to make. One of the most important is choosing the right insurance to protect you and your finances in case the unexpected occurs. While understanding in...
Read More →
Ways to Lower Your Home Insurance Premiums
Every homeowner needs insurance, but if you’re like most of us, you’ll want to know how to lower your home insurance premiums without sacrificing coverage. So it’s good to know th...
Read More →
Understanding More About Home Insurance Policy Endorsements
A home insurance policy is designed to offer you insurance coverage for your home's structure and your personal property. It is also designed to protect you against any personal liability when some...
Read More →