To make a long story short I am relocating across League City in a few weeks. My lender got a bid on insurance for the new home including windstorm. Not knowing the guy I got a quote from my current broker as well. The difference came out to nearly $300 a month in favor of the lenders bid.





I did compare apples to apples and there are some differences. Deductible is 2.5% vs 2% and some other very minor details that would equate to less than pocket change per month. I found out the lenders quote was TFP...... doing very quick ignorant research it is very hit or miss on reviews. I fully understand you typically get what you pay for in life but $300 a month on top of todays interest rates can be a big deal to a family like mine.





Anyone out there have any feedback?

You need to check to see if they are Cash Value or Replacement coverage. Cash value sucks and reimburses a fraction of replacement.

Pretty sure the Fair plan uses cash value only

Check water damage coverages. I have TFP bc I couldn't get coverage anywhere else but they only cover $5k in accidental water damage.

TFP is considered the "insurance of last resort" when you have been declined twice by market carriers. It has limited coverage and benefits.

But in today's market I think more folks will end up there. Especially Houston

I have never heard of this TFP coverage and this is the second time it's popped up on this board this month. For those struggling to get home coverage, is this a regional part of the state like Houston only, or is this struggle across the entire state?

State sponsored. But you have to be declined twice so Houston and the coast cities would be it's primary market

Since getting outright declined has not happened much until recently you now see them pop up as a carrier.

I'm in North DFW and was declined by more than two providers before I had to settle for TFP. My coverage was declined bc I have a 12 year old roof.

Question on the roof, class 3 or 4 shingles? The age issue is why 2 of my agent friends steered me away from Class 4. They last too long and the roof becomes uninsurable.

I absolutely agree, but once your roof gets to 10 years you're effed

Isn't that with new plans and not worth existing policies though? At least I got that impression.

great for the roofers though.

Sounds like we need less software / AI innovation and more roof innovation.

As someone mention above, the main issue is that they cover a max of $5k towards Sudden and Accidental Water Damage, which would be from a plumbing or appliance leak. A typical home insurance policy would cover up to the full dwelling limit. The home should be insured at Replacement Cost Coverage though, or the lender wouldn't accept it

Homeowners policies in Texas vary from company to company. The coverage limits may look the same but what the policy contract reads vary. There really isn't a way to compare "apples to apples". I like to say they are all fruit but one company sells an apple, another company sells a pear. Anyway, here is a link that helps you compare the policies themselves: Homeowners Insurance Comparison - Office of Public Insurance Counsel (texas.gov)

Good catch on deductibles as well as keep an eye on personal property limits. Many companies are adjusting how they handle roof claims based on the age of the roof. After a certain age, they may not pay replacement cost on them. Be sure to ask. Not 100% sure on how Texas Fair Plan handles it.