Texas Homeowners Pay Highest Insurance Premiums for Second Year in a Row
The Dallas Morning News—January 10th, 2012
AUSTIN — Texas homeowners paid the most expensive insurance premiums in the country for the second year in a row, although average premiums in the state have not been increasing as sharply as in other states, according to new figures from the National Association of Insurance Commissioners.
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“For as long as anyone can remember, Texas has had among the highest insurance rates in the nation,” said Alex Winslow of Texas Watch, a consumer group active in insurance issues.
“The flip side is that coverage for most homeowners is getting slashed while their rates keep going up. With higher deductibles, expanded exclusions and a growing number of junk policies, Texas policyholders are being forced to pay more for less,” he said. “It’s like being forced to pay Cadillac prices and getting stuck with a clunker.”
Winslow said the situation would not improve until the Legislature beefs up laws regulating insurers and the commissioner of insurance “gets tough” with companies.
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