Texas Windstorm Pool: No Policies Issued With Hurricane in the Gulf

July 22, 2008

  • July 22, 2008 at 2:42 am
    Texas Agent says:
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    Hello, Mr or Mrs agent? You know that beach front home we purchased on the Texas Gulf Coast. Remember how we told you we would just rather not buy those high priced wind & flood policies. Well good news! We changed our mind. We will be right down to your office with cash to put both into effect today. And then their closing words. You can hold my check for a few days can’t you?

  • July 22, 2008 at 2:48 am
    Rocket Scientist says:
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    TWIA should, like NFIP, impose a 30 day wait before coverage goes into effect. This would solve that problem entirely.

  • July 22, 2008 at 2:51 am
    Texas Agent says:
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    Amen!
    Another improvement would be if they would direct bill. Then when the renewals get screwed up they could blame someone besides the agents. HAHAHA!

  • July 22, 2008 at 4:23 am
    Tom says:
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    These are probably also the same people who will say (1) I thought the percent deductible applied only to the damage, not to the property value, and (2) the flood exclusion is invalid, all the damage was really caused by a hurricane.

  • July 23, 2008 at 8:13 am
    Fred Hilpert says:
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    As the storm gets closer insurance rates should go up. When the storm hits a property the actuaries know exactly the probability of a hit.

    The insurance companies (if allowed by the government) could charge 100% replacement cost plus are reasonable profit for a rush order under adverse conditions.



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