By: Turner of Tarrant H.B. No. 3959
A BILL TO BE ENTITLED
AN ACT
requiring certain information be provided to consumers with
renewals of their homeowners insurance policy.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 521, Insurance Code, is amended by
adding Section 521.006 to read as follows:
Sec. 521.006. NOTICE TO ACCOMPANY RESIDENTIAL PROPERTY
INSURANCE RENEWAL POLICY. (a) Each renewal of a residential
property insurance policy must contain on the first page:
(1) a table that clearly lists the premium charged
under the policy before renewal, the new premium charged under the
renewal policy, and the percent change, if any, between these
amounts, and
(2) an explanation, in plain language, of any changes
in the coverage of the policy.
(b) If there is any increase in the premium or change in the
coverage of the renewal policy, the first page of the renewal policy
must contain a statement advising the consumer of the Department's
website www.helpinsure.com for comparing premiums and coverages of
different insurers' policies.
(c) The commissioner shall adopt appropriate wording for
the notices.
SECTION 2. 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 as it existed immediately
before the effective date of this Act, and that law is continued in
effect for that purpose.
SECTION 3. This Act takes effect September 1, 2009.