Live Insurance News

Farmers reaches settlement in homeowners insurance case

July 10, 2015July 9, 2015 S.Vagus

Insurer finalizes a settlement for a lawsuit that it has been fighting since 2002 Many Texas residents may receive refunds from Farmers Insurance Group as the company has reached a settlement in a lawsuit from 2002. The lawsuit involves policyholders paying higher premiums for less coverage, and state regulators found that this had been the case after examining many complaints issued against the company. The insurer will be paying $84.4 million per the settlement, which will be issued to policyholders that are eligible for refunds from the company. State regulators…

Homeowners insurance premiums expected to drop in Texas

June 22, 2015June 20, 2015 S.Vagus

Legislation may help lower the insurance premiums for homeowners in coastal areas Coastal property owners in Texas may get a break in their homeowners insurance premiums. A new law that aims to reconfigure the Texas Windstorm Insurance Agency is set to go into effect. The organization provides insurance coverage for those that live in coastal areas, and offers protection from the damage caused by windstorms and similar disasters. The law is meant to decrease the homeowners insurance premiums for those receiving coverage through the Texas Windstorm Insurance Agency. Texas has…

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…

Homeowners insurance in Texas is getting more complicated

October 13, 2014October 11, 2014 S.Vagus

Lawmakers have exited a hearing regarding the Texas Windstorm Insurance Association with new insight Texas lawmakers have learned more about the current problems facing the Texas Windstorm Insurance Association (TWIA). The organization is often the last place where people can find homeowners insurance that provides coverage for certain natural disasters in the state. Like other state-backed insurance organizations, TWIA has had to deal with severe financial issues that have threatened its ability to effectively provide coverage to policyholders. Some of these issues have been resolved in recent years, but state…

Homeowners insurance becomes a hot topic in the search for Texas’ next Governor

October 6, 2014October 4, 2014 Logan B.

Wendy Davis and Greg Abbott agree that insurance coverage is too expensive Homeowners insurance has become a political platform in Texas. The state’s Attorney General, Greg Abbott, and Senator Wendy Davis are campaigning to be the next Governor of Texas, and the two candidates are divided on many issues, apart from insurance coverage. Both candidates agree that more must be done to slow the constant increase in homeowners insurance rates throughout the state. Texan homeowners have seen their premiums grow by a significant amount for the past several years, and…

Homeowners insurance rates are on the rise in Texas

September 22, 2014September 20, 2014 G. Turner

Insurance coverage is becoming more expensive because of natural disasters in the past Homeowners insurance rates are on the rise in Texas, and natural disasters may be the cause. The state has not been hit by a major hurricane in six years and devastating wild fires have not been seen since 2011. Despite the apparent lull in catastrophe, rates for insurance coverage continue to grow. This has to do with the lasting impact of natural disasters and how they affect the insurance industry. Texas is prone to disasters and insurers…

Homeowners insurance is more expensive in Texas

August 7, 2014August 4, 2014 H. Cutner

Drivers in the state are also paying higher rates for their auto policies. According to an analysis of the latest data from the Texas Department of Insurance, the cost of homeowners insurance and auto policies in the state – particularly in the northern parts – is high and is becoming more expensive, this year. The average rates for both of those types of coverage have increased by double digits for many residents. The analysis, which was conducted by The Dallas Morning News, involved a look at the rates being charged…