Insurance Talk Texas

  By   Shannon Ryan   and   Sarah Rafique Monday, February 24, 2025 10:48PM CT CLEAR LAKE, Texas (KTRK) -- John Cobarruvias fell in love with his Clear Lake neighborhood when he first moved there with his family in 1989. "It was just a perfect place for us and our kids and over the years, we just didn't want to move," he said. "It's a great place to live, but we're getting to a point where we're going to have to make some decisions. This increase in insurance can't continue. It's unsustainable." This increase in insurance can't continue. It's unsustainable. Back in 2000, Cobarruvias said he paid just $750 a year for his home insurance, which had a $500 deductible. Now, he said he's paying $6,000 a year with a $9,000 deductible and the increases keep piling up. Paying too much on home insurance? Get a better rate today For two years in a row, Cobarruvias said his home insurance company raised his rates by 25% annually and 13 Invest...

1. Rising Construction Costs:  If the cost of materials, labor, or other factors related to rebuilding or repairing a home increases, insurance providers may raise premiums to reflect these higher costs. 2. Inflation:  General inflation can also contribute to higher premiums as the value of homes and the cost of services rise over time. Check your business insurance rate TODAY 3. Claims History:  If you or others in your area have made frequent claims, insurance companies might raise rates to offset the costs of those claims. 4. Changes in Risk Factors:  If the risk of damage to your home increases due to factors like a rise in local crime, new natural disaster risks (e.g., flooding, wildfires), or nearby construction that may affect your property, your insurer may increase your premiums. Paying too much on home insurance? Get a better rate today 5. Lack of Updates to the Home:  If you've not updated your home with the latest safety features (like a new roof or ...

Insulate pipes: Wrap exposed pipes, particularly those in unheated areas like basements or garages, with pipe insulation to prevent heat loss and freezing.  Let faucets drip: Slightly open faucets, especially those near exterior walls, to allow a small stream of water to flow, which makes it harder for pipes to freeze.  Adjust thermostat: Raise your thermostat temperature to maintain a consistent indoor temperature and prevent pipes from freezing.  Need a Homeowners quote?? Get yours today Close garage doors: If your garage is attached, keep the door closed to prevent cold air from entering your home and impacting pipes in the garage.  Locate water shut-off valve: Know where your main water shut-off valve is located so you can quickly turn off water supply in case of a burst pipe.  Seal cracks: Check for and seal any cracks around exterior walls and foundation near water pipes with caulk to prevent drafts.  Check your business insurance rate TODAY Drain out...

  The frequency with which hurricanes affect the East and Gulf Coasts continues to increase. Hurricanes and tropical storm conditions are on the rise, according to   Princeton University . Combined with the fact that hurricanes are the costliest cause of home damage, it’s no wonder carriers are reacting. Texas gets hit by hurricanes more than any other Gulf Coast state besides Florida. There is a lot of land geography to cover and the eastern portion of the state holds more of the population than the western. The Lone Star State is also second in terms of population. Check your business insurance rate TODAY Building a home in Texas may not be the costliest endeavor when you look at the entire country, however, you’re still going to pay a sizeable amount to do so. Furthermore, inflation is raising the costs of labor and materials. As if these conditions aren’t unfavorable enough, the trend of increased hurricane activity isn’t looking like it’s going to reverse any time soon. S...

It happened in Florida following devastating hurricanes ravaged their state. The same in Louisiana following the unthinkable damage left in the wake of Hurricane Ida. Again, it would take place in California following wildfires. Now, in 2023, insurance companies pulling out of Texas has become a reality. Some of the homeowners and motorists that need them the most in the Lone Star State are going to find increased difficulty finding insurance moving forward. This comes as major and minor carriers continue to assess risks and evolve to new weather trends. Need Flood Insurance??? Get a quote today Virtually nothing that goes into restoring a loss is getting cheaper. There is typical inflation to deal with but also much more than this increasing prices. Carriers are making business decisions and if you aren’t prepared, you could find yourself in a tough place when looking to protect your home or vehicle. However, among all the doom and gloom, there are still options. Even as nationwide in...

ByTravis Herzog, David Tillman, Elita Loresca, Rachel Briers, Kevin Roth, and Elyse Smith KTRK logo Friday, February 21, 2025 9:28AM HOUSTON, Texas (KTRK) -- With most of us dropping near or below freezing early this morning, it's another day to bundle up! A Cold Weather Advisory is in effect until noon. You can expect a cloudy sky all day Friday which should limit highs to the upper 30s. A few light rain showers are possible, especially southwest of Houston. Rain chances return over the weekend and we warm back up into the 70s by Monday. Paying too much on home insurance? Get a better rate today What should we expect for the weekend? It will be cold, but not freezing! The biggest thing to know about the weekend is we'll likely end up with widespread showers that will build through the day on Saturday and continue into Sunday morning. Saturday's rain will generally be on the lighter side with the highest odds in the afternoon and evening. By Sunday morning we expect some co...

  Texas rates have increased 22% on average so far in 2023, twice the national rate. More billion-dollar disasters have occurred in Texas this year than any other year on record. By  Erin Douglas Insurance companies across Texas have dramatically increased home insurance rates this year, state filings show, as climate change spooks executives and inflation pushes up costs to rebuild after natural disasters. Texas is prone to hurricanes and flooding, both of which are made more severe by climate change. Now insurance companies are becoming increasingly concerned about more powerful thunderstorms that are wrecking homes with flooding, hail and strong winds, analysts and experts said. Need Flood Insurance??? Get a quote today And as both the impacts of climate change and inflation have worsened over the last couple of years, insurers have “less of an appetite” for taking chances in catastrophe-prone states, said Tim Zawacki, an insurance industry principal research analyst for S...

  By   Jeff Ehling Friday, August 30, 2024 HOUSTON, Texas (KTRK) -- High insurance bills have some or all of us looking at cheaper options. The costs of everything from car and homeowners insurance are going up, and experts are seeing a large spike in people trying to find ways to save money. In the past, if your car or homeowner's insurance went up a little bit, you probably just shrugged your shoulders and paid the bill, but the increases we are seeing now are leading many of us to look for a better deal. Need a Homeowners quote?? Get yours today "There are unprecedented times in terms of the rate increase people are seeing," said Chris Rice, the vice president of Insurance Strategic Business Intelligence at LexisNexis. The information and analytics firm says searches for auto and home insurance companies are spiking as rates continue to rise. The company says more people are now switching insurance carriers than ever before as they try to find ways to save money in any...

  Consumers who face a premium increase are advised to shop around and compare their current list of declarations, coverages and deductibles with new policies By  Diana Zoga   •   Published September 17, 2024   •   Updated on  September 17, 2024  at  6:35 pm Ahead of next year’s legislative session, Texas lawmakers are hearing testimony about homeowners insurance rates. Tuesday, a Texas House Committee on State Affairs heard testimony about the rising costs of homeowners insurance and factors contributing to insurance companies leaving some Texas markets. Across North Texas, our NBC 5 Responds and Investigates teams have heard from consumers who report seeing higher homeowners insurance premiums. An NBC 5 analysis found the average Texas homeowners insurance premium went up 44% in nine years. Texas State Rep. Chris Turner, a Democrat representing parts of Tarrant County, said he’s hearing about it, too. Need a Homeowners quote?? Get yours tod...

 Erica Grieder The Courier of Montgomery County Another home insurer is pulling back in Texas as extreme weather events threaten properties across the state. Progressive Insurance is no longer writing new homeowner insurance policies in Texas, the company confirmed to WFAA-TV in Dallas last week. The decision had previously been reported by Insurify, a home insurance quotes comparison site. Progressive didn't immediately respond to questions from the Houston Chronicle about the scope or timing of the pullback, or whether existing policyholders may have their coverage canceled or not renewed. The company is primarily known for its car insurance and is the largest auto insurer in Texas by market share, according to the Texas Department of Insurance. Need Flood Insurance??? Get a quote today But Progressive has played a growing role in the home insurance market since acquiring American Strategic Insurance, a home insurance company headquartered in Florida, in 2015. The Progressive Gr...