Tex. Ins. Code § 707.004
Current with legislation from the 2023 Regular and Special Sessions signed by the Governor as of November 21, 2023.
An insurer that issues a property insurance policy with replacement cost coverage may refuse to pay a claim for withheld recoverable depreciation or a replacement cost holdback under the policy until the insurer receives reasonable proof of payment by the policyholder of any deductible applicable to the claim. Reasonable proof of payment includes a canceled check, money order receipt, credit card statement, or copy of an executed installment plan contract or other financing arrangement that requires full payment of the deductible over time.
Tex. Ins. Code § 707.004