The state may no longer be at the top of this costly list but this is great news for residents.
According to recent statistics regarding Texas homeowners insurance rates – when compared with those in the other states across the country – are no longer the most expensive.
This is a list that Texans are glad to hear that they are no longer leading.
In fact, Texas homeowners insurance rates have dropped down to third place on the national list. This, according to the annual state rankings that have been compiled for the most expensive coverage rates in the country. The list was a part of a report from the National Association of Insurance Commissioners. The leading space that had formerly been held by the Lone Star State now belongs to Florida.
In second place, just ahead of Texas homeowners rates, are those from Louisiana.
According to Mark Hanna, who is with the Insurance Council of Texas, there is a clear reason for the pattern that is forming in terms of the rates among the most expensive states. He explained that researchers are currently “using some accurate data involving windstorm coverage that they haven’t in the past.” He added that the researchers are also added that “talking about windstorms, any state along the coast–that is going to have a huge effect.”
Florida and Louisiana have easily made their way to the top of this list if only from the increased threat of disastrous and catastrophic windstorms such as hurricanes. However, Hanna went on to say Texans actually have a larger number of perils, well beyond hurricanes, to concern them. They also have a broad range of other risks, including tornadoes, wildfires, and many others. “It’s just all of the different events that we have…the ice storms, the wildfires, tornadoes…we have it all.”
Weather experts, such as meteorologists, have pointed out many of the major reasons behind the sky high Texas homeowners insurance rates, as this is one of the areas of the country that has the most violent weather. It is for this reason that it is being predicted that while the state may not always have the top spot, it will never be far from the lead on this list.
