Coastal Property Owners in Limbo as the State Resolves Texas Windstorm Issues

Well, the issue has made the deadline and both House and Senate versions of the Texas Windstorm Bill are in Committee for a resolution.

Governor Rick Perry has warned that this issue could warrant as special congressional sessions if not resolved.

Apparently, the restriction that only owner occupied residences would be eligible for windstorm coverage has been removed. That’s a relief since a large portion of property is secondary, vacation or rental property.

The $250,000 cap on dwelling coverage was still in the bill on all blogs and legislative watches that I can find. That would be a huge problem.

Rate changes for windstorm from 10% to 40% have been tossed around. We know the pool is under funded for the risk but 40%?

I liked this quote because it’s spoken like a true Texan:
“If you’re helping the coastal people too much, the inland people start squawking,” state Sen. Troy Fraser, R-Horseshoe Bay, said. “If you charge the insurance companies too much, then there are people who say you are hurting the viability of the insurance market.”

I’ll continue to watch it over the weekend, but looks like by Monday we will either have a Windstorm bill or a special session.

Views: 6

 

Click Here For Jobs Listings

Sponsors

This Month: [open]

Previous Recent Sponsors:

Cafe Monteverde

Featured Non-Profit:

Charity Cup

[more info here]

 

NEW Become a Sponsor

Latest Latest Activity on InHouston Feed Featured Blog Articles on InHouston


Add a comment to any profile you are viewing now


Working Capital

Need Cash To Grow?
B2B Company?
Request More Info


Advertising

All Blog Posts

 

Latest Activity

Rick Barras updated their profile
Oct 1
CLAUDIA STAUDT SEIGLER updated their profile
Mar 4
Preston Naquin updated their profile
Jan 31

Featured Member
Gail Stanart left a comment for Eric Standlee
"Thanks for originating this site. "
Dec 28, 2017

InHouston
Eric Standlee left a comment for Gail Stanart
"Welcome to the site"
Dec 23, 2017
Attorney Mark W. Bennett posted a status
Sep 5, 2017
Attorney Mark W. Bennett updated their profile
Sep 5, 2017
Adit updated their profile
Sep 5, 2017

About

Badge

Loading…

© 2020   Created by Eric Standlee.   Powered by

Badges  |  Report an Issue  |  Terms of Service