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| Protecting Your Family and Property |
TWIA is the state’s insurer of last resort for wind and hail coverage in the 14 coastal counties and parts of Harris County (east of Highway 146). TWIA provides wind and hall coverage when insurance companies exclude it from their homeowners and other property policies sold to coastal residents. TWIA employees are committed to promote hurricane safety and education, together with the development and enforcement of coastal building codes, in an effort to save lives and property.
Similar to other insurance carriers, TWIA has a written contract that specifies the extent and restrictions of the insurance coverage it provides. It collects premiums and pays valid claims. Its policies are distributed to policyholders owning property in 14 first-tier counties (and parts of Harris County) along the Texas Gulf Coast through insurance agents, brokers and direct writers.
Traditional, for-profit insurance companies must assess risk differently than TWIA does. Generally, when estimated risk is low, traditional markets provide windstorm coverage for high-risk areas. They may withdraw from this territory after catastrophic losses occur. When risk is higher and traditional markets withdraw, TWIA absorbs policies no longer written by other carriers. Because TWIA is a provider of last resort, it is likely that the coverage will not be extensive nor will it offer the lowest prices.
— Earthquake Insurance
Earthquakes are rare in Texas, but if you want the coverage, you can pay for it with a separate policy that won’t be expensive.
— Extra Coverage (Endorsements)
You can pay extra for more coverage to cover additional items that are not in your policy. This can include items, such as special art collections, computer equipment, jewelry or camera equipment.
— Personal Umbrella Liability Insurance
This is designed to protect you against a catastrophic lawsuit or judgment. It provides expanded coverage and increases the amount of your liability protection beyond the basic coverage provided under your homeowners policy. To decide whether it’s necessary, discuss it with your agent or insurance company.
Auto Insurance
While you may have a flawless driving record, it only takes the action of one careless driver to cause you bodily injury and also destroy your automobile. It’s also the law in Texas that a person may not operate a motor vehicle in this state unless financial responsibility is established for that vehicle, which means auto insurance is necessary. Learn more in this section as well as auto insurance basics, the eight basic types of coverage available, insuring teen drivers and what to do when an accident occurs.
— Shopping for Auto Insurance
Rates vary widely among companies, so it pays to shop around. Following are some tips to help you find the best deal for your money:
You can learn more about a company, including its license status, complaint history and financial rating from an independent rating organization, by calling the Texas Department of Insurance Consumer Help Line at (800) 252-3439 or by visiting www.tdi.texas.gov.
— Auto Insurance 101
Auto insurance pays for damages, injuries and other losses specifically covered by your policy. Coverages can vary by policy and company. Read your policy carefully to know exactly what it covers. Pay special attention to the exclusions section, which lists the things your policy doesn’t cover. The front page of your policy is called the declarations, or “deck,” page. It contains useful information, such as the exact name of your insurance company, your policy number and the amount of each of your coverages and deductibles.
Texas law requires people who drive in Texas to be able to pay for the automobile accidents they cause. Most drivers do this by buying automobile liability insurance. Liability insurance pays to repair or replace the other driver’s car and pays other people’s medical expenses. It does not pay to repair or replace your car or for your injuries. You must have at least the minimum amount of liability coverage required by the state’s financial-responsibility law.
Similar to other insurance carriers, TWIA has a written contract that specifies the extent and restrictions of the insurance coverage it provides. It collects premiums and pays valid claims. Its policies are distributed to policyholders owning property in 14 first-tier counties (and parts of Harris County) along the Texas Gulf Coast through insurance agents, brokers and direct writers.
Traditional, for-profit insurance companies must assess risk differently than TWIA does. Generally, when estimated risk is low, traditional markets provide windstorm coverage for high-risk areas. They may withdraw from this territory after catastrophic losses occur. When risk is higher and traditional markets withdraw, TWIA absorbs policies no longer written by other carriers. Because TWIA is a provider of last resort, it is likely that the coverage will not be extensive nor will it offer the lowest prices.
— Earthquake Insurance
Earthquakes are rare in Texas, but if you want the coverage, you can pay for it with a separate policy that won’t be expensive.
— Extra Coverage (Endorsements)
You can pay extra for more coverage to cover additional items that are not in your policy. This can include items, such as special art collections, computer equipment, jewelry or camera equipment.
— Personal Umbrella Liability Insurance
This is designed to protect you against a catastrophic lawsuit or judgment. It provides expanded coverage and increases the amount of your liability protection beyond the basic coverage provided under your homeowners policy. To decide whether it’s necessary, discuss it with your agent or insurance company.
Auto Insurance
While you may have a flawless driving record, it only takes the action of one careless driver to cause you bodily injury and also destroy your automobile. It’s also the law in Texas that a person may not operate a motor vehicle in this state unless financial responsibility is established for that vehicle, which means auto insurance is necessary. Learn more in this section as well as auto insurance basics, the eight basic types of coverage available, insuring teen drivers and what to do when an accident occurs.
— Shopping for Auto Insurance
Rates vary widely among companies, so it pays to shop around. Following are some tips to help you find the best deal for your money:
- Decide before shopping what coverages you need.
- Consider choosing a higher deductible, which is the amount you must pay before the insurance company will pay. Higher deductibles will lower your premium, but you’ll have to pay more out of your own pocket if you have a claim.
- Get price quotes from several companies. Make sure the quotes are for the same coverages.
- When getting a price quote or applying for insurance, answer questions truthfully. Wrong information can result in an incorrect price quote or could lead to a denial or cancellation of coverage.
- Ask your agent whether you qualify for any discounts the company might offer.
- Consider factors other than price, including a company’s financial rating, complaint index and license status. The financial rating indicates a company’s financial strength and stability, and the complaint index is an indication of its customer service. Buy only from licensed companies and agents. It is against the law to sell insurance without a license in Texas.
You can learn more about a company, including its license status, complaint history and financial rating from an independent rating organization, by calling the Texas Department of Insurance Consumer Help Line at (800) 252-3439 or by visiting www.tdi.texas.gov.
— Auto Insurance 101
Auto insurance pays for damages, injuries and other losses specifically covered by your policy. Coverages can vary by policy and company. Read your policy carefully to know exactly what it covers. Pay special attention to the exclusions section, which lists the things your policy doesn’t cover. The front page of your policy is called the declarations, or “deck,” page. It contains useful information, such as the exact name of your insurance company, your policy number and the amount of each of your coverages and deductibles.
Texas law requires people who drive in Texas to be able to pay for the automobile accidents they cause. Most drivers do this by buying automobile liability insurance. Liability insurance pays to repair or replace the other driver’s car and pays other people’s medical expenses. It does not pay to repair or replace your car or for your injuries. You must have at least the minimum amount of liability coverage required by the state’s financial-responsibility law.
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