This morning, the Senate Business and Commerce committee considered SB 112 by Senator Eddie Lucio which would require insurers to disclose the true value of home insurance deductibles. Our Director of Legislative Affairs, Ware Wendell, testified in favor of this bill, saying that it’s a simple common-sense fix that would help policyholders better understand the actual dollar amount of their percentage deductibles. During the hearing, insurance lobbyists opposed the bill. Senator Kirk Watson stood up for Texas policyholders by holding one lobbyist’s feet to the fire and discredited his false arguments against the bill.
Watch the video for yourself:
We believe that Texas policyholders should be informed upfront of how much their policy actually covers. This shouldn’t be something they learn after they survive a disaster and find they don’t have enough funds to rebuild. SB 112 will empower homeowners with the knowledge they need to shop the market and obtain adequate coverage for their homes.