Texas Homeowners Insurance Rates Are Soaring — What Should Be Done?
If you’ve noticed your homeowners insurance premium creeping up (or jumping way up), you’re not alone. A recent article from The Texas Tribune and AP News highlights that Texas homeowners saw a 19% rate increase in 2024, following a 21% spike in 2023. And unless something changes, there’s little relief in sight.
So, what’s driving the surge?
Climate change is bringing more frequent and severe weather events
Inflation and higher construction costs are pushing up claim payouts
Lack of state regulation allows insurers to raise rates without approval
Lawmakers are starting to respond with proposals like:
Senate Bill 1643, which would require state approval for rate hikes over 10%
House Bill 1576, offering grants to help homeowners reinforce their homes
But will these measures be enough? Even legislators admit they’re trying to control a moving target. As Rep. Tom Oliverson put it, “We can't control the weather, we can't control inflation.”
As someone working in the insurance industry, I see the real-world impact this has on everyday Texans. But I’d love to hear from you.
👉 Have you noticed your insurance premiums going up? What do you think should be done — more regulation, better consumer protections, or something else entirely?
Let’s talk about it. Your input matters — especially now.
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