Policyholders with State Farm will see a rate increase for their homeowners insurance after the company filed a rate request to the Texas Department of Insurance last week. The increase will average 20 percent for Texas customers. The rate increase will take effect Nov.1 for new customers and Dec.1 for existing policyholders.
Think car insurance rates are high in Texas? You might be surprised! Many factors affect rates, including the costs of car repair and medical care, the level of insurance fraud in a state, the number of uninsured drivers and population density. This list compared the median household income and the median price of an annual car insurance policy in all 50 states and the District of Columbia, and ranked them based on the percentage of household income going toward car insurance. Click here to see the full list, and to also see the 10 states with the lowest percentages on the final slide.
Homeowners covered by Farmers Insurance will see their second premium increase this year, the company told state regulators Friday, planning to boost the cost of most policies in Texas by an average of 15 percent.
The higher rates would affect 520,000 Farmers customers who have either a Texas Family Home policy or a Next Generation Homeowners policy.
From our offices in Weatherford, Texas, we serve clients anywhere in the State of Texas, though the following areas are geographically closest to us: the counties of Dallas, Tarrant, Denton, Wise, Johnson, Parker and Hood and the cities of Arlington, Bedford, Brock, Burleson, Cleburne, Colleyville, Coppell, Dallas, Decatur, Euless, Fort Worth, Frisco, Granbury, Grapevine, Hurst, Keller, Mansfield, Millsap, Mineral Wells, North Richland Hills, Southlake, Watauga, Weatherford, and White Settlement.