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Replacing Hurricane Insurance in Texas

An insured should have a justifiable reason to replace its hurricane insurance policy in Texas. Before proceeding, the policyholder should thoroughly read the insurance policy to determine if it has penalties for termination. Doing so would allow the insured to avoid penalties under the state's insurance law.

The insurance provider can also cancel the policy if they have proof that the insured committed fraud or failed to pay a premium. However, this can also lead to additional fees. Your first point of contact should be a state-licensed agent to explain all the gray areas in your storm insurance policy’s terms and conditions.

How Do I Switch my Hurricane Insurance to Another?

You can switch your insurance policy or provider by letting your current insurance company know about your intention. If you intend to switch your flood or windstorm insurance provider, you must notify your current insurance company. If you want to switch plans, the insurance company will let you know whether you qualify for the policy and its terms and conditions. However, it may be harder to switch policies if you do not inform your current insurance company within a reasonable time, usually before your policy is renewed. You should also consult with a Texas-licensed P&C agent before switching your hurricane coverages.

How Can I Replace my Hurricane Insurance if I Find a Better Deal?

If a new insurer accepts you, you will need to ensure that you're getting the best deal by doing the following:

  • Thoroughly review the policy terms with a Texas-licensed P&C insurance agent.

  • Apply for the new policy with the help of your agent and make the first premium payment.

  • Contact the old insurance company to cancel the existing policy. The amount of the refund you will get for the unused premium will depend on the policy terms.

It is essential that you complete the entire process of purchasing the new hurricane insurance policy before canceling your old policy. This is because the insurer that you're considering may reject your application for a new policy application. As such, you should consult a Texas-licensed P&C insurance agent to guide you through replacing your existing insurance policies.

Can I Switch my Hurricane Insurance to Another Company?

Yes, you can switch your hurricane insurance to another company if you find an insurer offering you a better deal that reduces your rate. Just make sure that the new company offers the best possible service. You can switch by following these simple steps:

  • If you want to stay with your existing insurance provider, ask whether they can match your new offer. Doing so will allow them to try and get the best possible service. Also, since Texas regulates insurance rates, the price of windstorm and flood insurance can be adjusted depending on the package and the policy structure. A restructured insurance policy can help you lower the cost and keep the insurance company you prefer.

  • If the previous insurer does not agree to your proposed rate, you can shop for a new company that will offer a better deal.

  • An agent can help you find the best possible solution for your needs by shopping for multiple quotes. The agent will talk to you about the various available options and explain how they would benefit you.

  • Apply to the new company to get started. Once the application is approved, start the new coverage.

  • You can cancel the old disaster insurance policy after the waiting period of the new policy has elapsed. Ensure you do not cancel your policies within the waiting period of the new policy because if a hurricane occurs during this period, you will not be covered.

  • Inform the old one of your decision to cancel the old policy and provide the date when it will be replaced. This will prevent any gaps in coverage.

  • Before switching insurance providers, ensure that the existing coverage is still active until the new policy takes over. This will prevent any gaps in coverage.

  • Understand how the old policy's unused premium will be settled before canceling.

Consult with a state-licensed insurance agent if you intend on switching your insurance agent for proper guidance and shopping for the best possible insurance rates.

What Happens if you Change Hurricane Insurance Companies?

Your contract with your current insurance company will end once you change it. This means that you will no longer be able to enjoy protection against hurricane damages from that insurance company. However, your new insurance provider will continue to protect against the aftermath of hurricane damage. You have to wait for a 30-day waiting period before activating your new windstorm and flood policy with the new insurance provider.

Can I Change Hurricane Insurance Companies at Any Time?

Yes, if you purchased a new hurricane insurance coverage from another insurance company, you may want to change from your existing insurance company. Before changing your insurance company, discuss with your agent to get advice. They can help you understand the terms and conditions of the current and new company.