Texas Homeowner Insurance Rates

Threat of hurricanes sends home insurances rates skyward

What do the three states have in common? Large population areas near their coastlines that are well within the range of hurricane winds and storm surges. The statewide premium was $1,430 in 2009, the most recent data available from the National Association of Insurance Commissioners. The average premium rose 9.9 percent in 2006 and 11.4 percent in 2007, to which Louisiana Insurance Commissioner Jim Donelon said he was “not surprised.” Allstate Insurance — the state’s second-largest insurer of homes — announced Monday it wants an average 11.3 percent increase for 71,000 of its clients. The company is also proposing an average 5.9 percent hike for another 73,000 homeowners covered by its indemnity program. Together, the requests total nearly $17 million in higher rates. Not to be outdone, Louisiana Citizens Property Insurance may increase its rates by 10.5 percent overall this year. But residents without wind and hail coverage may have a smaller sticker shock. The board of directors of the state’s insurer of last resort approved the rate change in a 6-2 vote Jan. 12, but are awaiting final approval from Donelon. By law, Citizens must charge higher rates than commercial insurers.

Texas approves HO benchmark increases. (homeowners insurance ...

This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on September 8, 1997. The length of the article is 511 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.

From the supplier: Texas homeowners insurance benchmark rates were raised about 14.2% by Elton Bomer, Insurance Commissioner. Insurance companies whose rates are regulated by the state must submit proposed changes to the commissioner. Bomer decreased benchmark rates for renters insurance about 7%. Companies whose rates are not controlled are responsible for about 70% of homeowners policies.

Citation Details

Comments Rule! 5 Reasons to Leave a Comment on This Post

1. We link your name to your website which may improve your site ranking with Google.

2. Because we include your web link, other readers may click through and visit your site.

3. Contribute to the conversation. Did this help you? Do you have something to add? Share with our readers!

4. It's good karma! You just might get more comments on your blog as a result, not to mention visibility with other readers.

5. We pay attention to comments and appreciate users who take the time to contribute!

Texas

Introduces the geography, history, environment, economy, famous people, and culture of the Lone Star State.

Texas, the rise, progress, and prospects of the Republic of Texas ...

From these statements it appeared that the people of Texas were chiefly of Anglo -American origin, that they were altogether insignificant in number, ...

Texas

Texas

"An exploration of the geography, history, economy, people, government, and landmarks of Texas"--Provided by publisher.

Insurance for Dummies

Explains how to buy and save on every kind of insurance, including life, health, auto and home insurance, and offers tips on how to get the best coverage for ...