| 1 | 1 | | 81R11424 AJA-D |
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| 2 | 2 | | By: Kent H.B. No. 2641 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to credit toward the deductible of certain automobile and |
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| 8 | 8 | | homeowners insurance policies. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter B, Chapter 1952, Insurance Code, is |
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| 11 | 11 | | amended by adding Section 1952.060 to read as follows: |
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| 12 | 12 | | Sec. 1952.060. REQUIRED PROVISION: ANNUAL DEDUCTIBLE |
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| 13 | 13 | | CREDIT. A personal automobile insurance policy that contains a |
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| 14 | 14 | | deductible of $1,000 or more must contain a provision to reduce the |
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| 15 | 15 | | amount of the deductible that the policyholder must pay in the event |
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| 16 | 16 | | of a claim by an amount equal to 10 percent of the deductible amount |
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| 17 | 17 | | for each policy year immediately preceding the claim in which the |
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| 18 | 18 | | policyholder does not submit a claim under the policy. |
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| 19 | 19 | | SECTION 2. Subchapter A, Chapter 2002, Insurance Code, is |
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| 20 | 20 | | amended by adding Section 2002.008 to read as follows: |
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| 21 | 21 | | Sec. 2002.008. REQUIRED PROVISION: ANNUAL DEDUCTIBLE |
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| 22 | 22 | | CREDIT. A homeowners insurance policy that contains a deductible |
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| 23 | 23 | | of $2,500 or more must contain a provision to reduce the amount of |
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| 24 | 24 | | the deductible that the policyholder must pay in the event of a |
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| 25 | 25 | | claim by an amount equal to 10 percent of the deductible amount for |
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| 26 | 26 | | each policy year immediately preceding the claim in which the |
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| 27 | 27 | | policyholder does not submit a claim under the policy. |
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| 28 | 28 | | SECTION 3. The change in law made by this Act applies only |
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| 29 | 29 | | to an insurance policy delivered, issued for delivery, or renewed |
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| 30 | 30 | | on or after January 1, 2010. A policy delivered, issued for |
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| 31 | 31 | | delivery, or renewed before January 1, 2010, is governed by the law |
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| 32 | 32 | | in effect immediately before the effective date of this Act, and |
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| 33 | 33 | | that law is continued in effect for that purpose. |
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| 34 | 34 | | SECTION 4. This Act takes effect September 1, 2009. |
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