The Clock Is Ticking For Harvey Victims To Get Top Dollar On Some Insurance Claims

A new law, which goes into effect Friday, means insurance companies generally won’t have to pay as much interest on money they owe policyholders.

By Jill AmentAugust 30, 2017 2:48 pm| , , , , ,

Most Texans impacted by Hurricane Harvey have not even begun assessing the storm’s damage, but they may have to face another hurdle soon: filing their property insurance claims before this Friday.

Alana Rocha of the Texas Tribune reports that Texans who fail to file property damage claims before the end of the week may receive less from insurance companies, thanks to a new House bill, which goes into effect Sept. 1. Although the new bill will not affect the claims process, Rocha says the bill would dramatically decrease the interest rate property owners could receive from insurers.

 

Written by Rachel Zein.