We're #1!!!!According to a 2007 report by Forbes Magazine The Most Expensive States To Insure Your Home 2007, four years after our elected officials promised lower insurance rates through deregulation of the industry, Texas is once again #1 with the highest insurance rates in the nation.
Louisiana is in second place at $1074 followed by Oklahoma, $991, Florida $929, and the "Thank God for Texas" state, Mississippi at $907. Texas continues to top the list from 2005. (See The Most Expensive States To Insure Your Home 2005 by Forbes Magazine.)Average Annual Premium: $1,362
Take all the country's collective disasters and you have the Lone Star state, where insurers try to make a profit despite hurricanes, tornadoes, hail, windstorms and earthquakes. At an average premium rate of $1,328, it tops our list. The good news for Texans is that rates are going down thanks to 2003 regulations. What's more, the rest of the country is closing the gap.
Who's Going Down?
I'm not sure where Forbes is getting this "rates are going down thanks to 2003 regulations" crap. According to their own report in 2005 Texas was #1 in the nation with an average of $1238.
According to the Texas Department of Insurance, state mandates are bringing costs down, but the lower premiums don't show up until homeowners' renew their policies.And yet two years later, the average is now $1,328 with less protection and higher premiums.
Texas the Cash Cow
The insurance industry has realized that Texas is a cash cow. Rates have doubled since the insurance friendly Republican controlled legislature caved in to every demand of the industry. Mold is not longer covered. Sewer, water, and foundation protection is now optional. All of this while our rates doubled.
Voters are Dufus'sAnd the industry has also realized that Texans are some of the most forgiving in the country continuing to believe the excuses of our elected officials and re-electing them while their insurance rates double.
It is the perfect storm for the industry, stupid voters and a Republican controlled state.
16 comments:
stupid voters
Now that's the way to attract people to your side -- by insulting them.
I think he was referring to you.
you people in texas must be stupid to put up with that crap.
I think he was referring to you.
John has a history of insulting Texas and Texans, regardless of political stripe. He routinely runs little posts, claiming Texas is "the worst place to live." (I don't know why he subjects his family to that, but I digress).
The guy even mocked the heroes of the Alamo, claiming they "didn't have enough sense" to change their religion at the behest of the Mexican government.
No, it was just another feather in Cobarruvias' too-tight Texas-bashing cap.
Let's all follow Matt's example on extracting people to his side. If only we were all as open minded as he is, as generous, thoughtful and intelligent.
/snark
Extracting people?
Matt,
If you want to bend over and put you ass in the air for your party, please do so, but don't assume the rest of us like getting screwed.
I for one am tired of getting screwed.
Matt wins the spelling bee again.
If you want to bend over and put you ass in the air for your party, please do so, but don't assume the rest of us like getting screwed.
Are you paying more to insure your hovel than you did last year? I'm paying less, so thanks.
I dont think Matt knows what he is talking about. Sure his insurance might be less this year, from last year, but overall he has gotten screwed like everyone else.
He is just too busy being on his knees to admit it.
I dont think Matt knows what he is talking about. Sure his insurance might be less this year, from last year, but overall he has gotten screwed like everyone else.
My premiums haven't gone up for the entire time I've been in my home.
Or he is just a liar.
Take your pick.
Anonymous, shop around and you can find deals on homeowners insurance, just as you can with just about any product or service. If someone blindly renews his policy year after year, without regard to price, I don't feel too sorry for him when that price increases.
Imagine that: individuals using their own initiative the save money, rather than clinging to archaic price controls.
It's just crazy enough to work.
I dont know about anyone else, but I DID shop around and was faced with getting screwed, or getting more screwed.
Anyone who thinks deregulation has resulted in lower rates has their heads up their ass.
Anonymous, feel free to email me; I'd be glad to put you in touch with a good agent.
Thanks for the information on topics.I was excited for this article.
Thank you again.
Insurance information for good ideas.
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