Cheap Home Insurance and Consumer Rights Are Top Concerns

There is probably no such thing as cheap home insurance in the United States anymore, but homeowners are getting some positive news in the insurance department in terms of improved security.
A bill of rights for homeowners’ insurance in the Gulf Coast was able to get through the House through a 108-6 vote and is now on its way to the Senate Insurance Committee. It is the second in a three-year period that the House Insurance Committee needed to pass a bill of insurance.
House legislators stated that one of the biggest issues that concern Gulf Coast residents is insurance and the passage of the bill of rights is a significant development in terms of protecting consumers in the area.
The Legislature, reports revealed, has yet to pass a single legislation that addresses insurance claims handling since the Katrina disaster. That makes House Bill 563 an important piece of legislation for Gulf Coast home owners. According to market analysts, the fact that the bill sailed easily through the House also adds to the optimism among residents that their housing-related problems are not being ignored.
Although cheap home insurance is something that is hard to find in the whole country, proponents of the House bill stated that the current bill will provide homeowners with some security in terms of buying insurance policies which can be considered a great help.
They further added that the bill will provide homeowners with knowledge on what they can expect when purchasing a policy and when they make a claim and it will offer home owners a stronger traction in terms of protecting their homes and themselves.
According to some supporters of the bill, the Senate Insurance Committee has yet to work on any protection bill for policyholders and they would need to be encouraged to look into the current bill of rights.
Proponents have also added that one of the most common complaints against such bills is that they can change the way business is done in home insurance and that these bills can discourage parties involved from writing policies.
Despite the fact that majority of Gulf Coast homeowners do not find it easy to get cheap home insurance, the bill being considered by the Senate Insurance Committee is expected to provide them with some protection that can partially offset the impact of insurance policy prices.






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