The Texas Department of Insurance announced the release of its 2005 insurance price comparison guides, which are available on the agency’s Web site at www.tdi.state.tx.us. The new price comparisons update and replace the guides TDI has previously published for auto and homeowners insurance.
The new price comparisons include an increased number of driver and home “profiles” that can more accurately reflect the consumer’s insurance needs. The new guides also use representative zip codes as location references rather than rating territories, providing consumers with helpful information.
The price comparisons help people shop for insurance and show annual price estimates submitted to TDI by the companies listed. Both auto and homeowners price comparisons show estimates for the type of policy a company is “most likely” to sell to new customers.
The auto price comparisons list estimates based on seven hypothetical driver profiles, up from four profiles in the previous rate guides. Profiles vary by age, gender, and use of vehicle (drive to work or pleasure). The homeowners price comparisons list estimates based on eight hypothetical homeowner profiles, up for four profiles previously. Profiles vary by age of house and construction.
Along with price estimates, the guides provide contact information for each company listed, an A.M. Best financial rating, a complaint index, and shopping tips. The online price comparisons also include information on discounts offered. .
Companies writing in the top 80 percent of the market statewide for auto and homeowners insurance were required to submit data. Other companies were included if they chose to submit data. Only companies currently writing to new customers are included.
Note: The price comparisons show annual price estimates submitted to the Texas Department of Insurance by the companies listed, and represent typical coverages for hypothetical profiles. The price information cannot be used to compare insurance rates between companies over time.
Topics Auto Homeowners
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