Texans are paying more money in home insurance premiums compared to people in any other state
AMARILLO, TEXAS -- Everyone knows the saying "Everything's bigger in Texas," and when it comes to home insurance premiums, that may be especially true.
For those who own a home in Texas, they're going to pay $600 more a year compared to people in any other state.
In a new study by the National Association of Insurance Commissioners, it found the average annual premium nationwide is about $800. However, Texans pay more than $1,400. The study tracked premiums from 2006.
So what's so different right here? Industry officials are blaming the unpredictable hailstorms, hurricanes, and tornadoes.
"Storms happen different all over, but they do happen more in Texas because we're just a big state," said Chris Carson from Farmers Insurance.
The study also said that a rash of mold claims several years ago also drove up rates, but Carson said that simply isn't true anymore.
If you think you're out of luck, there are ways to lower your premium. Carson said instead of just automatically letting a policy renew, call your agent to see what discounts are available.
