Texas’ property insurer of last resort in coastal counties has issued a reminder to agents that while the maximum limits of liability for residential and commercial properties will remain the same in 2013 as they were in 2012, both commercial and residential premium rates will rise beginning Jan. 1, 2013.
In a bulletin to agents, the Texas Windstorm Insurance Association (TWIA) noted that effective Jan. 1, rates will increase for new and renewal policies, as follows:
- + 5% / All commercial rates**, to include all Builders Risk policies
- + 5% / All residential dwelling premiums
** Farm and Ranch dwelling rates in effect as of Jan. 1 are in sync with regular dwelling rates.
Renewal notices with renewal dates of Jan.1 or later will reflect the new rates. Renewal coverage will not be bound without a copy of the renewal notice and a check for the premium submitted to TWIA along with any other required documents.
Updated rates for 2013 are now on the E-quote system when calculating new business.
Source: TWIA
Topics Trends Catastrophe Texas Carriers Natural Disasters Windstorm Pricing Trends
Was this article valuable?
Here are more articles you may enjoy.
Florida AG Sues Roofing Firm After Dozens of Complaints About Unfinished Work 
State Farm to Increase Claims Workforce by 3,000 
Florida Agents Appointed With Citizens Drops as Carrier Competition Grows 
Independent Agencies Total About 37,000 in 2026, a Decrease From 2024 
