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A new law, set to take effect Friday, aims to crack down on frivolous insurance lawsuits. But House Bill 1774 also reduces the penalty fees that insurance companies face for late payments if the policyholder files a lawsuit.
For many Texans ravaged by the rain and winds Hurricane Harvey carried ashore this past weekend, filing an insurance claim for the damage their property sustained is probably the farthest thing from their minds right now. But waiting to submit a claim past Friday could cost them big.
A new law set to take effect Friday aims to crack down on frivolous insurance lawsuits. But House Bill 1774 also reduces the penalty interest rate insurance companies face for late payments if the policyholder files a lawsuit.
Most insurance won't cover flooding anyway, so it won't change how screwed those people are.
originally posted by: interupt42
a reply to: xuenchen
This is why the Republicans AND Democrats need to get their head out of their ass and realize that neither the DNC or GOP sponsored candidates work for their constituents.
Everything our gov't does is for the behalf of the lobbyist regardless of a 'D' or an 'R'.
Time to put political ideology to the side and come together to take on the DNC,MSM,GOP, and lobbyist.
originally posted by: bigfatfurrytexan
a reply to: crayzeed
For the most part, I don't think the folks down on the coast are even considering FEMA. We are just helping our own in Texas.
If any of you aren't from Texas, and haven't heard about our officially unofficial state grocer, HEB....its the greatest company to ever exist. Screw FEMA, screw Wal Mart....we are taking care of our own.
originally posted by: Oldtimer2
If you take money in federal aid,you also sign over half of your estate when you die,what a racket,any kind of aid is not free ,even if it is your own tax dollars
Source
RUMOR: You must file insurance claims by September 1 due to a change in Texas law.
FACT: Your normal insurance claims process has not changed. This rumor stems from House Bill 1774, which the Texas legislature passed to reduce the number of lawsuits against insurance companies. The law requires more detailed paperwork from attorneys before they can file a lawsuit against an insurance company and reduces the amount of penalty interest you can collect if you win. Texas Congressman Joaquin Castro is pushing for the legislature to go into special session and delay enforcement of the new law.
originally posted by: violet
originally posted by: Oldtimer2
If you take money in federal aid,you also sign over half of your estate when you die,what a racket,any kind of aid is not free ,even if it is your own tax dollars
Wow, really? Sounds like that reverse mortgage scam.
Like they always say, if it's free or sounds to good to be true, it usually is.
www.legalzoom.com...
FEMA helps most disaster victims through the Individuals and Households Program (IHP). The IHP can provide temporary shelter in government housing or the money to rent an apartment or house. While you're residing elsewhere, they offer the financial resources to repair or rebuild your home. Funds for medical attention, funeral expenses, transportation needs (including a replacement vehicle), and moving costs are also available. In addition, IHP assistance is there for work or school related essentials like clothing, computers and books. . .
. . . Tax-free money received from IHP is not part of your personal income. Better yet, it's not a loan. You won't have to worry about paying off a troublesome loan as you're rebuilding your life. But IHP money can only be used for disaster-related purposes, so you can't just apply in the hopes of redecorating your house. Just to keep tabs on this provision, FEMA requires that you retain your receipts and bills for three years.