House Bill 1343, sponsored by Rep. Craig Eiland (D-Galveston), would amend the Insurance Code to authorize the state insurance commissioner to issue a specialty license to a residential landlord or a property manager to act as an agent for an authorized insurer for a limited purpose. The bill is pending in the House Business and Insurance Committee. The companion bill, SB 431 sponsored by Sen. John Carona, (D-Dallas), has passed the Senate.

"As affiliates of the Texas Apartment Association, we absolutely support all their efforts to move toward this," Kristan Arrona, executive director of the Austin Apartment Association, tells GlobeSt.com. "This bill will make it easier for residents to protest their belongings and raise awareness of the importance of this kind of insurance. I think it's a win-win situation."

David Mintz, vice president of governmental relations for the state association, is optimistic the renter's insurance legislation will pass, despite some opposition from State Farm and Farmers Insurance, which considers the bill a threat to its business. Mintz adds that only 15% of homeowners are covered by homeowners insurance and only between 5% and 10% of renters are covered.