State Farm Insurance Company has proposed a huge rate increase for homeowners, and the state’s consumer advocate is crying foul. But will the Insurance commissioner do anything about it?
State Farm is the 900 pound gorilla of insurers in Texas.
Alex Winslow heads up Texas Watch, which keeps an eye on insurance companies.
“State Farm is the single largest insurance company in Texas. And they have implemented a 20% rate increase, which is the largest single increase in state history. State Farm likes to talk about how Texas has bad weather, and that’s without a doubt, we do have bad weather. But that’s nothing new and it doesn’t justify dramatic increases in premiums.”
Read More: KTEK