Texas § 2251.005 NOTICE OF RATE INCREASE FOR RESIDENTIAL PROPERTY INSURANCE POLICIES.

Texas Statutes

§ 2251.005 — NOTICE OF RATE INCREASE FOR RESIDENTIAL PROPERTY INSURANCE POLICIES.

Texas § 2251.005

Code INInsurance Code

This text of Texas § 2251.005 (NOTICE OF RATE INCREASE FOR RESIDENTIAL PROPERTY INSURANCE POLICIES.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Insurance Code Code Ann. § 2251.005 (2026).

Text

Sec. 2251.005. NOTICE OF RATE INCREASE FOR RESIDENTIAL PROPERTY INSURANCE POLICIES.

(a)An insurer shall notify a policyholder of a residential property insurance policy issued by the insurer of a rate increase scheduled to take effect on the policy's renewal that will result in a premium amount to be paid by the policyholder that is at least 10 percent greater than the lesser of:

(1)the premium amount paid by the policyholder for coverage under the policy during the 12-month period preceding the policy's renewal date; or

(2)the premium amount paid by the policyholder for coverage under the policy during the policy period preceding the policy's renewal date.

(b)An insurer shall send the notice required by Subsection (a) before the renewal date and not later than the 30th day before the

Free access — add to your briefcase to read the full text and ask questions with AI

Sec. 2251.005. NOTICE OF RATE INCREASE FOR RESIDENTIAL PROPERTY INSURANCE POLICIES. (a) An insurer shall notify a policyholder of a residential property insurance policy issued by the insurer of a rate increase scheduled to take effect on the policy's renewal that will result in a premium amount to be paid by the policyholder that is at least 10 percent greater than the lesser of:
(1) the premium amount paid by the policyholder for coverage under the policy during the 12-month period preceding the policy's renewal date; or
(2) the premium amount paid by the policyholder for coverage under the policy during the policy period preceding the policy's renewal date.
(b) An insurer shall send the notice required by Subsection (a) before the renewal date and not later than the 30th day before the date the rate increase is scheduled to take effect.
(c) An insurer may send the notice described by Subsection (a) to any policyholder of a residential property insurance policy issued by the insurer, regardless of whether the policyholder's premium amount will increase as a result of the scheduled rate change.
(d) The commissioner by rule may exempt an insurer from the notice requirements of this section for a short-term policy, as defined by the commissioner, that is written by the insurer.