Bay Area Houston

I thought Republicans hated socialism.

The Texas Fair Plan is basically socialized home insurance. It is an insurance policy financially backed by the State of Texas and operated by the Texas Fair Plan Association. The TFP is like the Texas Windstorm Insurance Association the first socialized insurance plan in Texas. TWIA was created back in 1971 and was to be the “insurance of last resort”. Currently it is almost the ONLY resort available to the 14 counties on the Texas coast. TFP was created in 1995 and covers the entire State. It is also the “insurance of last resort” but is becoming the ONLY resort in the Bay Area.

If you want to know the details about the TFP read this article The Texas Fair Plan: What It Is and What It Covers published by the Merlin Law Group. You can also visit the TFP website at TexasFairPlan.org. Here are some quick notes:

• The Texas Fair Plan is a state sponsored insurance policy. (Socialized insurance)
• Property owners must apply through an agent
• To qualify for the TFP property owners must have been rejected by two of the free market insurance companies
• The TFP has very limited coverage
• No water or sewer backup coverage
• $5000 limit on water events such as broken pipes in the home
• Doesn’t cover the 14 counties for windstorm damage. That is usually covered by TWIA
• The total insurable value of the contents of the house maxes out at 50% of the total value of the house

If you are struggling with the rising cost of your home insurance you might want to reach out to an agent and see if you qualify. Personally I think the Bay Area is going to be like the coastal areas where the mighty free market will be allowed to flee the market leaving us with the Texas Socialize Insurance Association. Maybe this is a good option if it can be improved.

I really thought the Republican Party hated socialism.

This entry was posted on Wednesday, September 3rd, 2025 at 7:18 am and is filed under Consumer, Political. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.