Texas Homeowners Pay Highest Insurance Premiums
An industry group says Texas homeowners are paying the highest insurance premiums in the country.
The report was released last month by the National Association of Insurance Commissioners.
The Dallas Morning News reported the study is based on premiums collected in 2010, the most recent year for available nationwide data.
The average annual cost of the most commonly sold policy in Texas was $1,560, about 3.2 percent more than figures from a year earlier. The national average was $909.
Rick Gentry of the Insurance Council of Texas says adverse weather creates losses. He says such losses, from catastrophes such as tornadoes, hailstorms and hurricanes, drive the price of insurance.
Alex Winslow with the consumer group Texas Watch says prices continue to climb while coverage is getting slashed.
- Before the Nuclear Verdict: Rethinking How Liability Claims Are Managed
- Agentic Intelligence for Claims Dominates New Tech Launches
- Goldman Sachs Ensnared in EY Data Breach Earlier This Year
- Anxiety Over Gas Prices Points to ‘Looming EV Comeback’ in US
- Londoners Find ‘Horrendous’ Cracks in Their Homes After Successive Heat Waves
- The Great Hemp Reset: How the Federal Ban on Intoxicating Hemp Products Will Reshape Risk and Coverage
- New Corgi, Liberate, VERVE Claims Tech. Do We Need New Acronyms?
- Florida Bans Flock Cameras, License Plate Readers From State Roads