Pleasantville Strategic Planning and Revitalization Committee

Home insurance rates in Texas are highest in nation

Mar 08, 2009

Home insurance rates in Texas are highest in nation
ASSOCIATED PRESS


Wednesday, March 04, 2009

Texas homeowners still pay the highest insurance rates in the nation despite measures designed to lower them and worse weather losses in other states.

A study by the National Association of Insurance Commissioners released Monday showed the average annual premium for common policies in Texas was $1,409 per year, much higher than the nationwide average of $804. Florida's average premium was second-highest at $1,386.

The study is based on premiums collected in 2006, the most recent year for which figures are available.

Texas historically has been among the most expensive for home insurance. Industry officials blame Texas' unpredictable weather, which includes hurricanes, hailstorms and tornadoes. A rash of mold claims several years ago also drove up rates.