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A BILL TO BE ENTITLED
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AN ACT
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requiring certain information be provided to consumers with |
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renewals of their homeowners insurance policy. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 521, Insurance Code, is amended by |
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adding Section 521.006 to read as follows: |
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Sec. 521.006. NOTICE TO ACCOMPANY RESIDENTIAL PROPERTY |
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INSURANCE RENEWAL POLICY. (a) Each renewal of a residential |
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property insurance policy must contain on the first page: |
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(1) a table that clearly lists the premium charged |
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under the policy before renewal, the new premium charged under the |
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renewal policy, and the percent change, if any, between these |
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amounts, and |
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(2) an explanation, in plain language, of any changes |
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in the coverage of the policy. |
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(b) If there is any increase in the premium or change in the |
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coverage of the renewal policy, the first page of the renewal policy |
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must contain a statement advising the consumer of the Department's |
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website www.helpinsure.com for comparing premiums and coverages of |
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different insurers' policies. |
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(c) The commissioner shall adopt appropriate wording for |
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the notices. |
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SECTION 2. This Act applies only to an insurance policy |
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delivered, issued for delivery, or renewed on or after January 1, |
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2010. A policy delivered, issued for delivery, or renewed before |
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January 1, 2010, is governed by the law as it existed immediately |
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before the effective date of this Act, and that law is continued in |
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effect for that purpose. |
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SECTION 3. This Act takes effect September 1, 2009. |