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