Texas HB2473 establishes an emergency residential property insurance premium relief program for certain residential property insurance policies.
Texas HB2473 creates an emergency residential property insurance premium relief program to assist policyholders facing economic hardship. The program applies to residential property insurance policies covering a property that is the policyholder's residence homestead and has an appraised value not exceeding $2 million. Eligible policyholders can apply for a relief payment to cover delinquent premiums. The program includes an emergency association premium relief fund, which consists of appropriations, gifts, grants, and interest earnings.
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