In Texas, what is required for an insurance policy to be enforceable?

For an insurance policy to be enforceable in Texas, it must be documented in a written format and signed by both parties involved in the contract. This requirement ensures that the terms of the agreement are clear, legally binding, and acknowledged by both the insurer and the insured. A written policy provides a tangible reference that outlines the coverage, terms, and obligations, which is crucial in case a dispute arises.

While the other options present various aspects related to insurance agreements, they do not satisfy the fundamental requirement for enforceability. A verbal agreement lacks the necessary written documentation and formal acknowledgment, which can lead to misunderstandings and lack of evidence in legal situations. Additionally, although the payment of the initial premium is important for the policy to take effect, it does not serve as the primary condition for enforceability on its own. Approval from the state insurance commissioner is important for regulatory compliance but does not directly impact the enforceability of the policy between the parties. Thus, having a written policy signed by both parties is the most critical factor ensuring that the agreement is legally enforceable.