TDI Updates Homeowner’s Rate Guide

The Texas Department of Insurance recently updated its Homeowners Insurance Rate Guide. It can be found on TDI’s Web site at www.tdi.state.tx.us.

The guide compares compare rates among companies that sell homeowners insurance in areas across the state. It lists companies and the annual rates they would charge four “typical” homeowners with $100,000 coverage on the house, $40,000 on its contents, a 1 percent ($1,000) deductible, and “good” credit.

The “typical homeowner” profiles may not apply to all individual situations, but are intended to provide a way to compare prices among companies. The premiums shown are not the exact amounts that will be quoted. Premiums may vary according to individual circumstances. The profiles used are:

• Owner A: Owns a brick veneer home in an urban area with good fire protection. • Owner B: Owns a frame home in an urban area with good fire protection.
• Owner C: Owns a brick veneer home in a rural area with limited fire protection.
• Owner D: Owns a frame home in a rural area with limited fire protection.

In addition to rates, the guide provides the insurer financial strength and operating rating for each company, as supplied by A.M. Best Co.; a complaint index that compares each company’s consumer complaint record to the average of all companies; and the types of homeowner’s insurance offered by the companies listed.