The Texas Department of Insurance presented a report to a state Senate committee on Tuesday, July 10th. In addition to showing a 21% increase in home premiums since 2009, it also divided the state into six geographic regions and ranked them by the highest premiums and average losses.
The report showed the following ranking;
- The coastal counties ranked highest
- The counties just beyond the coastal counties were ranked second highest
- Tied for third were north Texas (includes D/FW) and the Panhandle
- Central and east Texas were ranked fifth highest
- Least costly were south, southwest Texas and the El Paso area
What influences the premiums for each area are;
- Coastal counties and counties just inland from the coast – hurricanes, high winds & water
- North Texas and the Panhandle – risk of severe thunderstorms, tornadoes & hail
- The risk for wind, tornadoes & hail diminishes with the bottom two areas
The two points to remember are;
- Where you live impacts the premium you pay for home insurance
- To have an idea what’s going to happen with your upcoming renewal, look at the weather we’ve experienced in the last 12 months
Knowing what weather impacts the region you live in can help shape the home you select or the roofing and siding materials to help keep your insurance cost low. If you’d like a quote on home insurance, drop us a request.