Texas' Consumer Bill of Rights for Insurance Policy Holders
Most property insurance policies are bought out of necessity and policy owners hope they never to have to make a claim.
But storms, vandals, or burglars are a fact of life and when they strike the results can be damages that necessitate making a claim.
Most policyholders have very little experience or knowledge about the claims process and their rights as a policyholder. An insurance policy lays out contractual procedures of the claim process while the Bill of Rights is a summary of the consumer's rights.
What does the Texas Consumer Bill of Rights have to do with your homeowner's insurance policy? EVERYTHING! People do not realize that a policy is more than that, it is legal contract between you as a consumer and the insurance company. This is how the Bill of Rights comes in. The Texas Department of Insurance created a Consumer Bill of Rights for homeowners' in the State of Texas.
Your insurance company is REQUIRED BY LAW to send a copy of the Consumer Bill of Rights with your policy upon renewal. The Bill of Rights states the required information that the Texas Department of Insurance and insurance companies must provide to the consumer. An example would be providing contact information in order to file a claim. It also covers prohibited statements, lender-required insurance, appliance damage, water damage, property conditions and storm damage.
It is a good idea to review your rights in case you have to open a claim, for this can improve your chances of receiving a fair settlement. The Bill of Rights can be found online at the Office of Public Insurance Counsel’s website. If you ever do file a claim, you have the option of consulting with an attorney who specializes in insurance law if you have any questions regarding your claim.
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