Texans pay most for home insurance

Texas homeowners paid the highest insurance premiums in the country, according to data released by the National Association of Insurance Commissioners.

Texans paid an average $1,460 a year for the most common homeowner policy sold nationwide, the association reported this week, based on data from 2008.

Florida ranked second, at $1,390. The national average was $791.

Only about a third of Texas homeowners have the “HO-3” policy that is commonly sold nationwide, noted Jerry Hagins, a spokesman for the Texas Department of Insurance.

http://www.mysanantonio.com/news/study_texans_pay_the_most_for_homeowners_insurance_108539969.html


Thanks Ricky

The best organization on this issue is Texas Watch. Keep up with insurance scams here"

www.texaswatch.org

:kick:

Hurricanes, tornadoes, hail, high winds, flooding, etc (depending on what area of the state you live in). Not a coincidence that FL is right up there at the top as well.

High risk area blah, blah, blah. The national insurance industry uses Texas like the DNC does - to siphon off cash from the state since they set their rates at their whim. And the state has no will to do anything about it. Oh we have a worthless Insurance Commissioner and Dept. of Insurance who whine at them,it but has no power apparently. The Lege won't act and the courts aren't exactly moving fast. The insurance industry is playing the BP game and privatizing profits while it socializes any losses. In other words, it really is a win-win for them. They can't lose by thumbing their noses at the regulatory agency. Whose going to stop them?

Texas does, in fact, have a much higher than average number and size of claims per capita than the national average. Insurance rates should therefore be higher as well. The industry may use it as a "talking point", but it's a far more persuasive one than "we don't like to pay so much". TX also has among the highest property tax rates... but if you look at that while excluding the reason for it, claiming that the reasons are "talking points" isn't persuasive.

It's a valid question whether the degree to which they are higher is appropriate, but there's no doubt that the "correct" rates would still be among the highest in the land. The same goes for Florida.

Those rates, for instance, occured shortly after Hurricane Ike. A ten billion dollar hit in the state is supposed to not impact rates?

While he was hospitalized, I had his windshield replaced because it would not pass inspection. Allstate paid the $400 or so, then canceled him for excessive claim activity.

State Farm canceled our homeowners when we filed a claim for burglary loss of about $800. We had insurance for 10 years with no claims before that.

Every time a hailstone lands in our neighborhood, everyone gets a new roof. The schemers and/or crooked contractors are are partially to blame...

But as Sonia S. has already pointed out, the Insurance Commission and their cronies aren't doing anything to stop it.

I’ve never heard of any two people paying the same rates. I think even http://hartfordauto.thehartford.com/Auto-Insurance/texas-auto-insurance.shtml">Texas car insurance is highly priced because we have so many uninsured motorists on the road making it all the more expensive for the law abiding citizens!

:hi:

Thanks a bunch!