Texas DOI Fair Plan FAQ http://www.tdi.state.tx.us/commish/nr01083b.html  

The below is a transfer from the old CADO article DB. 

Note: The policy information below comes from the Texas DOI web site. Texas DOI Fair Plan FAQ

--- The FAIR Plan HO-A provides:

Coverage for Your Home – Policies provide actual cash value coverage for your home and outbuildings. Actual cash value is replacement cost minus depreciation.

Policies may provide replacement cost coverage for your home. Replacement cost is what you would pay to rebuild or repair your home, based on current construction costs. Replacement cost is different from market value. It does not include the value of your land.

To be eligible for replacement cost coverage you must insure your home for at least 100 percent of its replacement cost. However, if at the time of loss your home is insured for less than 80 percent of the full replacement cost, the Texas FAIR Plan Association will pay only part of the expense of a loss.

Coverage for Your Personal Property – Policies automatically cover household contents – furniture, clothes, appliances, etc. up to 50 percent of the amount for which your home is insured. This means if you insure your home for $100,000, its contents are insured for up to $50,000. However, limitations of coverage apply to certain contents, including business personal property, jewelry, watches, furs, and money. This automatic coverage pays only the actual cash value of damaged, stolen or destroyed household goods. Actual cash value is an item's replacement cost minus depreciation.

For an additional premium policies may provide replacement cost coverage for your personal property. Replacement cost coverage gives you more protection than actual cash value coverage. (Example: A burglar steals your six-year-old television set. With actual cash value coverage you get only what you would expect to pay for a six-year-old television set. With replacement cost coverage, the insurance company pays to replace your TV with a new set similar to the one stolen.)

Liability Coverage – protects you against financial loss if you are found legally responsible for someone else’s injury or property damage.

Medical Payments – pays medical expenses for people other than residents of the household injured while on your property. It also pays for some injuries that may happen away from your home.

Loss of Use Coverage – pays additional living expenses if your home is too damaged to live in while repairs are being made.

Deductible Options – the standard deductible amount is 1 percent of the dwelling coverage amount. An optional deductible of 2 percent of the dwelling coverage amount is also available.

Coverage Limits – the following coverage limits are available:

Dwelling – Up to $1,000,000 Maximum value
Other Structures – 10 percent of Dwelling Coverage amount
Personal Property – 50 percent of Dwelling Coverage amount
Liability - $100,000 or $300,000 limit
Medical Payments - $5,000 limit
Loss of Use – 10 percent of Dwelling Coverage amount

Perils insured against on HO-A policies provide coverage only for damage caused by:

Fire
Lightning
Sudden and Accidental Damage from Smoke
Windstorm, Hurricane and Hail*
Explosion
Aircraft
Vehicles
Vandalism and Malicious Mischief
Riots and Civil Commotion
Theft

*By law, the Texas FAIR Plan Association may not provide windstorm, hurricane and hail coverage for property located in the designated catastrophe area consisting of 14 coastal counties and a portion of Harris County on Galveston Bay. A policy written by the Texas FAIR Plan Association on such property must have Endorsement HO-140, Windstorm, Hurricane and Hail Exclusion Agreement attached to the policy. Consumers in a designated catastrophe area may purchase windstorm, hurricane and hail insurance on insurable property through the Texas Windstorm Insurance Association.

Available Endorsements:
HO-140 – Windstorm, Hurricane and Hail Exclusion
HO-142 – Residential Community Property Clause Exclusion
HO-205 – Office, Private School or Studio Occupancies
HO-301 – Additional Insured
HO-800 – Amendatory Mandatory
HO-802 – Replacement Cost for Dwelling
HO-803 – Replacement Cost for Personal Property
HO-810 – Specified Building or Animal Exclusion

--- Other Links for Information on the Texas Fair Plan.