| Vote Recommendation | Economic Freedom | Property Rights | Personal Responsibility | Limited Government | Individual Liberty |
|---|---|---|---|---|---|
| No | Negative | Neutral | Neutral | Negative | Neutral |
Relating to payment of the replacement cost of damaged property under a homeowner's, renter's, or condominium owner's insurance policy.
No significant fiscal implication to the State is anticipated.
HB 1110 would require property insurance providers with a policy that includes replacement cost coverage must pay 80% of the replacement cost of the property upfront, and the remaining 20% when the insured has completed the repair or replacement of the property if a valid damaged property claim has been submitted by the insured.
Texas Action opposes HB 1110 because it violates the limited government and free market principles. The state should not be in business of creating or increasing insurance coverage mandates. Distorting the market through mandates leads to fewer choices and higher costs for consumers.