CHAPTER 2005. HOME WARRANTY AND HOME PROTECTION INSURANCE
INSURANCE CODE
TITLE 10. PROPERTY AND CASUALTY INSURANCE
SUBTITLE D. FIRE INSURANCE AND ALLIED LINES,
INCLUDING RESIDENTIAL PROPERTY INSURANCE
CHAPTER 2005. HOME WARRANTY AND HOME
PROTECTION INSURANCE
Sec. 2005.001. DEFINITIONS. In this chapter:
(1) "Home protection insurance" means coverage insuring a
purchaser of a home protection service or product against actual
property loss.
(2) "Home protection service or product" means a service or
product used for the protection of residential property,
including a service or product provided by a person regulated
under Chapter 1702, Occupations Code.
(3) "Home warranty insurance" means coverage:
(A) insuring performance by a builder of residential property of
the builder's warranty obligations to a purchaser of the
residential property; or
(B) insuring against named defects arising from failure of the
builder to construct residential property in accordance with
specified construction standards.
Added by Acts 2005, 79th Leg., Ch.
727, Sec. 2, eff. April 1, 2007.
Sec. 2005.002. AUTHORIZATION TO WRITE CERTAIN INSURANCE. An
insurer authorized to engage in the business of fire insurance
and allied lines or inland marine insurance may write home
warranty insurance or home protection insurance in this state.
Added by Acts 2005, 79th Leg., Ch.
727, Sec. 2, eff. April 1, 2007.
Sec. 2005.003. MANNER OF REGULATION. Home warranty insurance or
home protection insurance is not inland marine insurance, but is
governed in the same manner and to the same extent as inland
marine insurance.
Added by Acts 2005, 79th Leg., Ch.
727, Sec. 2, eff. April 1, 2007.
Sec. 2005.004. LIMITS OF COVERAGE. The amount of coverage under
a home protection insurance policy may not exceed $2,000 for any
single occurrence.
Added by Acts 2005, 79th Leg., Ch.
727, Sec. 2, eff. April 1, 2007.