Farmers Insurance Rate Hike in Texas Set for March

February 3, 2012

Farmers Insurance will raise homeowner premiums by nearly 10 percent after Texas regulators declined to object to the increase.

The Dallas Morning News reported that the rate hike, set for mid-March, will apply to about half of the Farmers Insurance policyholders across Texas. Nearly 350,000 affected customers have either a Texas Family Home Policy or a Next Generation Home Policy.

The rate request was filed last October with the Texas Department of Insurance. Company officials have said the higher rates are needed due to increased claim costs.

Farmers last raised home insurance rates in Texas in March 2011, an increase of nearly 4 percent.

 

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Latest Comments

  • February 13, 2013 at 9:22 pm
    Bob says:
    Not too surprised that the rates are increasing, but mine just went up by 67%!! What's going on here?
  • April 5, 2012 at 5:09 pm
    Mary says:
    The reality is that Texas is the number one state for catestrophic losses 3 times higher than the next in line. Texas has a vortex of weather and enviornmental issues that in ... read more
  • February 9, 2012 at 10:23 pm
    Magnum500 says:
    its a matter of time, when your carriers raise their rates too , bring it on !
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