Home Owner Insurance Company Houston

Farmers to increase home insurance rates 9.9 percent

Farmers Insurance plans to hike premiums by 9.9 percent for homeowners statewide in March this year.

Third insurer of the state needs the increase because of higher compensation costs, said John Henle, executive director of the State of South Texas for the company.

"Our losses over the last three years in Texas were more than 250 million, not including Hurricane Ike, or forest fires in Austin," he said.

Farmers customers saw their bills increase last in March 2011, when premiums rose 3.9 percent. The increase will affect approximately 350,000 policyholders statewide.

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