Insurance deductible law??

[jedimastercj]

What is the name of your state? tx

I am currently buying a house and was wanting to use the same insurance company that I use for auto. My mortgage broker told me that the insurance policy that was being submitted by my agent was illegal, because there was some law that states that house insurance deductibles have to be 1% across the board (his policy was for a 2% deductible). Anyone know about this law?

 

[moburkes]

I only see reference to the 1% deductible, when I search the Dept. of Insurance's website, but try calling.

For answers to general insurance questions or for information on filing an insurance-related complaint, visit our website or call the Consumer Help Line between 8 a.m. and 5 p.m., Central time, Monday-Friday

www.tdi.state.tx.us
1-800-252-3439