Allstate, State Farm, Farmers Plan to Raise Home Insurance Rates in Texas
Texas’ three largest home insurers are kicking off 2014 with steep increases in policyholder premiums, according to a report published on Jan. 4.
The Dallas Morning News reports that Allstate, Farmers and State Farm plan to raise rates for most current and new customers by between an average of 6.5 percent to 14.9 percent. More than 2 million homeowners will be affected.
Farmers is raising rates an average of 14.9 percent, and State Farm is boosting rates 9.8 percent. Allstate’s increase is 6.5 percent. That will affect policyholders with Allstate’s two largest homeowner’s insurance subsidiaries.
Once again, this is when having your insurance with an Independent Insurance Agency will reap you many rewards. An Independent Agent will continuously shop your insurance policies to guarantee you are receiving the best coverage and premium available in the industry. The insurance market is constantly changing, by placing your insurance with a trusted independent agent you are guaranteeing that you stay on top of current market conditions. The insurance policy you had 10 years ago is probably not the same policy you should have in place today. An Independent Agent is able to provide you with options that best fit your individual needs, whereas the above mentioned insurance companies have only one option to provide, and that is the one company they represent. Paschall Insurance Group boasts over 50 different top rated insurance carriers, we do not represent a single insurance company but rather we represent our clients. Paschall Insurance Group provides numerous options for our clients which will in turn save them time, money and stress.