Live Insurance News

Texas wildfire victims often didn’t have home insurance coverage

March 12, 2024March 11, 2024 H. Cutner

Home insurance - fire destruction inside home- Texas flag

Many of the structures – including homes – that were taken by the fires lacked a policy. Many of the victims of the wildfires that blazed through parts of Texas were without home insurance coverage, leaving them without any financial support to help them to recover. As a result, man of those victims might never experience full financial recovery At a recent news conference, Texas Governor Greg Abbott said that many of the people who lost their homes to the wildfires “had no insurance.” As a result, he pointed out…

Homeowners insurance litigation measure approved in Texas

May 6, 2015May 5, 2015 S.Vagus

Homeowners will have more trouble filing lawsuits against homeowners insurance companies Homeowners in Texas may find it more difficult to file lawsuits against insurance companies for unpaid claims, due to a measured approved by the state Senate. The Senate has voted to approve a measure that is meant to address the issue of homeowners insurance lawsuits, which lawmakers believe are becoming a significant problem for the state. The Senate is divided on the issue, with lawmakers disagreeing on how it should be resolved, but the measure managed to pass despite…

Texas homeowners insurance rates no longer highest

December 26, 2013December 21, 2013 H. Cutner

The state may no longer be at the top of this costly list but this is great news for residents. According to recent statistics regarding Texas homeowners insurance rates – when compared with those in the other states across the country – are no longer the most expensive. This is a list that Texans are glad to hear that they are no longer leading. In fact, Texas homeowners insurance rates have dropped down to third place on the national list. This, according to the annual state rankings that have been…

Homeowners insurance costs a top priority for Texas Lawmaker

October 22, 2013October 19, 2013 H. Cutner

As the state has already been ranked as one of the most expensive in the country, suggestions are being sought. A lawmaker in Texas has just addressed the insurance industry in the state, requesting that they come up with a way to help to reduce the consistently high homeowners insurance rates for residents. Texas is continually being ranked as one of the three most expensive states in the U.S. for this coverage. The other two states at the top of the expensive homeowners insurance rates list are Louisiana and Florida.…

Homeowners insurance in for some turbulence in Texas

April 1, 2013March 31, 2013 Logan B.

Texas homeowners insurance continues to be faced with serious problems The Texas Windstorm Insurance Association (TWIA) has been facing significant financial troubles in recent years. Like other state-run insurance organizations, TWIA offers homeowners insurance coverage that is typically less expensive than coverage offered by private insurance companies. For smaller states that are not exposed to the same natural disasters that Texas is, these public organizations face only modest challenges. TWIA, however, has long been faced with the financial woes that are associated with homeowners insurance for coastal properties. TWIA combats…

Texas insurance rates higher in some ZIP codes than in others

July 30, 2012April 30, 2013

State Farm says that this calculation factor is justified in the northern part of the state. The largest Texas insurance company, State Farm, has responded to concerns regarding the calculation of its rates, as there are disparities in premiums charged depending on the ZIP codes in which the policyholders live. An analysis was performed in Dallas regarding homeowners rates and found significant discrepancies. In fact, when comparing homes of similar values, claims histories, and coverage, Texas insurance rates charged by State Farm based exclusively on ZIP codes could mean a…

Homeowners insurance up 21 percent in Texas

July 16, 2012July 16, 2012 H. Cutner

Data shows premiums have skyrocketed since 2009 for home coverage in the state. Though the premiums for homeowners insurance in Texas have been the most expensive among all of the states for a long time, recent data has revealed that they have climbed 21 percent since 2009. This increase is much faster than the rate hikes seen in most other states. This data came from a report released by the Texas Department of Insurance. This same report identified a number of different factors that have contributed to the increases in…