Texas Homeowners: Urgency Exists to Immediately File Insurance Claims for Property Damage inflicted by Hurricane Harvey by this Thursday, August 31, 2017 !!!
On Friday, September 1, 2017 Texas House Bill 1774 will become law. This bill will severely obstruct and delay a homeowner’s ability to make an insurance company accountable when the insurance company take months or years to either pay a claim, underpay or wrongfully deny legitimate claims. Many new “legal roadblocks” must be avoided or satisfied by the Homeowner with various penalties if not timely performed.
With all the problems that Hurricane Harvey’s homeowner victims are facing, this is just another problem they may be facing on trying to get property damages claims paid in a timely fashion to help rebuild or replace their homes and possessions.
Texas House Bill 1774 reduces the interest rate insurance companies will have to pay to homeowners if the insurance company takes too long to pay the claim to the homeowner. The new interest rate will drop from 18% to 10%. This law also reduces the amount of attorney fees homeowners can recover if they don’t estimate at 80% accuracy the damage amount to their home when filing suit against their insurance company.
Texas Congressman Joaquin Castro has urged Texans “to file for Hurricane Harvey relief before Friday, September 1. The Texas legislature has passed House Bill 1774, making it harder to dispute or timely be paid for weather related Property claims.”
Texas HB1774 applies only to private insurance companies. Click Here to view the Texas HB1774 full text.
If you are a Texas Homeowner that needs help with Hurricane Harvey insurance claims for damages, contact attorney Mark A. Nacol, board certified in Civil Trial Law by the Texas Board of Legal Specialization, here at the Nacol Law Firm P.C. in Dallas by calling 972-690-3333.