Tag: texas vehicle insurance

Texas auto insurance rates are climbing because of lousy drivers and expensive repairs

Nordstrom
Auto insurance - Angry Driver

The Insurance Council of Texas released a statement about climbing premiums for Texan motorists. The Insurance Council of Texas recently released a statement to explain the rapidly rising auto insurance rates in the state that have been occurring since 2021. There have been several issues that have contributed to climbing premiums, but crashes top them. According to the community director of communications and public affairs for the council Rich Johnson, insurers have been slowly increasing their auto insurance rates since 2021. That year saw a substantial 20 percent increase following…

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Texas Department of Insurance receives long awaited extension

Marc

Lawmakers in Texas voted to extend the longevity of the state’s Department of Insurance. The department will also enjoy more authority over the insurance industry and will be able to impose stricter penalties when companies challenge the agency’s rate assertions and lose. The relevance of the Department had been debated for some time before a decision was reached Monday. Many legislators say that the ruling was long overdue. According to Texas law, state agencies must be evaluated for effectiveness every 12 years. Legislators determine whether these agencies provide a necessary…

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Pro business Texas insurance bill passes

S.Vagus

The Senate of Texas has passed a new insurance bill that has been the subject of a great amount of controversy. The bill will extend the life of the Texas Department of Insurance and will impose stricter guidelines on the agency itself. Previous to the bill’s passage, a number of amendments were proposed to make the legislation more consumer friendly. Each amendment was rejected, however, as they were deemed unfruitful to the state’s insurance industry. The state’s Democrats were behind the amendments to the bill. They argue that their propositions…

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