| Vote Recommendation | Economic Freedom | Property Rights | Personal Responsibility | Limited Government | Individual Liberty |
|---|---|---|---|---|---|
| No | Negative | Neutral | Neutral | Negative | Neutral |
Relating to the payment of insurance deductibles for property insurance claims.
No significant fiscal implication to the State is anticipated.
HB 1433 would prohibit an insurer from waiving a deductible owed by a policyholder under a property insurance policy in exchange for the policyholder using the insurer's preferred contractor for a claim.
This bill also prohibit a property insurer from paying a claim for withheld recoverable depreciation or a replacement cost holdback under a policy with replacement cost coverage until the insurer receives reasonable proof of payment by the policyholder of any deductible applicable to the claim.
In the event an insurer consents to waive an insured's deductible and a person provides a good or service to an insured in a manner that would be criminal under existing law without the insurer's consent, this bill would make such an event a criminal offense regardless of the insurer's consent.
Texas Action opposes HB 1433 because it violates our limited government and free market principles by increasing regulations on insurers with respect to providing an insured the opportunity to have their deductible waived in exchange for using the insurer's preferred vendor.