Tag: texas home insurance rates

Homeowners insurance costs a top priority for Texas Lawmaker

H. Cutner
Texas Homeowners Insurance

As the state has already been ranked as one of the most expensive in the country, suggestions are being sought. A lawmaker in Texas has just addressed the insurance industry in the state, requesting that they come up with a way to help to reduce the consistently high homeowners insurance rates for residents. Texas is continually being ranked as one of the three most expensive states in the U.S. for this coverage. The other two states at the top of the expensive homeowners insurance rates list are Louisiana and Florida.…

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Farmers Insurance and State Farm look to raise rates on home insurance in Texas

S.Vagus

Farmers Insurance Group, one of the largest insurers in the U.S., has unveiled plans to raise rates on homeowner’s insurance policies in Texas. The new rates, if approved by state regulators, will take effect next year. The company cites the growing number of high cost claims that has been streaming in since 2008 as reason for higher premiums. The proposal for higher rates from Farmers Insurance comes on the heels of a similar proposal from State Farm that would have the same effect on homeowner’s policies. The insurer is seeking…

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The fate of the Texas state run wind pool still undecided

Texas lawmakers will be convening in a special session of Senate after they were unable to determine the fate of the state’s Windstorm Insurance Association. The state-run insurance program provides coverage to homeowners in coastal areas that are prone to hurricanes. A bill to reform the program was before the state Senate last months, but legislators were unable to reach a compromise regarding the provisions of the bill. Now, the Legislature will be in session until a verdict can be reached. One of the provisions of the bill to reform…

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