Why is the Cost of Homeowners Insurance Going Up?
The cost of your homeowners insurance is going up in Texas, as it is across the country. Many factors can affect that cost, such as the deductible you select, the quality of your insurance coverage and the increasing value of your home; however, it is clear that rates are increasing for many customers.
Did you know:
- In the last five years, Texas has experienced losses from all five major catastrophes: hurricanes, wind and hail, floods, wildfires and earthquakes.
- The average property loss per homeowners policy in Texas is greater than the average premium in other states.
- According to the Texas Department of Insurance, thirty-five states have experienced average premium increases higher than Texas.
- According to the Texas Department of Insurance, the property insurance industry has been less profitable in Texas than it has been countrywide.
- Over the past sixty years, Texas has had the highest number of Federal Disaster Declarations.
We strive to find the best coverage for you at the lowest possible cost, but if you have questions about what you can do to decrease your premium, please call us.
Swingle, Collins & Associates specializes in homeowners insurance coverage. The descriptions of coverages listed on this website are brief and subject to the provisions, limitations, and exclusions that can only be expressed in your policy and related endorsements. For additional information of how Swingle, Collins & Associates can assist in meeting your coverage needs for homeowners insurance please contact your dedicated risk manager to discuss benefits and services.
The information contained on this page is provided for informational and educational purposes only. It contains general information on insurance issues and may not reflect the most current developments in insurance coverage and is unlikely to apply in all factual scenarios. The information does not include all the terms, coverages, exclusions, limitations or conditions that may be contained in the actual insurance contract language. The policies themselves must be read for those details. Sample policy forms will be made available upon reasonable request.