TWIA is replacing the current Insurance to Value (ITV) letters with a new and clearer version in policyholder packets.  The new letter provides a more detailed explanation of what ITV is and how it affects a policyholder’s Replacement Cost Coverage and any potential impact on future loss payments.

We are sending this bulletin to you to ensure you have a copy before it begins replacing the current one in new and renewal policy packets. Monday, October 17 would be the earliest a policyholder could receive a policy packet containing the new ITV letter. This new ITV letter will not be mailed out on its own. Policyholders will only receive the new letter in their policy packet when their policy is issued or renewed.

Follow this link to view TWIA’s current ITV letter

Follow this link to view TWIA’s new ITV letter

ITV is a method used to calculate whether or not a home is adequately insured in the event of a loss. TWIA requires a home be insured to at least 80% of the full replacement cost to qualify for Replacement Cost Coverage at the time of loss.

The new ITV letter is customized and will include an estimate of whether the policyholder would qualify for Replacement Cost Coverage through TWIA based on their current insurance amount. TWIA has also launched a new ITV page on our website www.TWIA.org/ITV/ which further explains the relationship between ITV, Replacement Cost Coverage and claim payments.

We are always here as a resource, so in addition to our ITV webpage, you may call us at 1-800-788-8247 if you or a policyholder have questions about ITV.

Thank you, 

TWIA