Farmers Insurance Group announced on Monday its full return to the Texas Homeowners Insurance Market. The announcement comes with premium reductions of up to 20 percent.
“We have been doing business in Texas for more than 50 years and we are thrilled to once again be back full-swing in the homeowners market,” said John Hageman, state executive officer, Farmers Texas.
Farmers is offering a five percent rate reduction across the board for all homeowners rates, and is rewarding most of its current homeowners customers, as of Dec. 2, 2004, who renew with Farmers at their next renewal, with a one-time persistency discount of an additional 15 percent. Additionally, Farmers is increasing coverage for water damage with no increase in premiums.
“We remain committed to our million-plus customers, our thousands of agents and employees in the state. We look forward to actively serving their needs for years to come,” said Hageman.
Farmers Insurance Group is the third largest insurer in Texas, insuring nearly 1.6 million automobiles, 500,000 homes, more than 33,000 businesses, and nearly 200,000 lives.
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