Texas No Longer No. 1 in High Home Insurance Rates

December 18, 2013
Texas

An industry group says Texas homeowners no longer are paying the highest insurance rates in the country, a distinction that now goes to Florida residents.

The National Association of Insurance Commissioners has released its annual report showing that while premiums for Texas homeowners has dropped to third in the nation, it remains well above the national average.

The Dallas Morning News reports the average annual cost of the most commonly sold policy in Texas is $1,578 while the national cost is $978. By contrast, the average policy for Florida homeowners is $1,933. Louisiana ranks second at $1,672.

Mark Hanna, with the Insurance Council of Texas, says coastal states now include more expensive windstorm policies.

Consumer group Texas Watch notes that Texans are paying more for insurance but receiving less overall coverage.

 

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Latest Comments

  • December 23, 2013 at 11:53 am
    KentU says:
    I'm not familar with the insurance rates in Nevada but, I would like to comment that an appointed commissioner is better than one that is elected. Elected officials are going... read more
  • December 20, 2013 at 8:43 am
    txmouthbreatherboogereatertx says:
    Texas however is still #1 in the #2 business
  • December 19, 2013 at 4:02 pm
    james says:
    lonestar, hear hear. :)
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