Homeowners insurance continues to rise in Texas

Sept. 17--The cost to insure one's home continues to go up in Texas.

Jerry Hagins, public information officer with Texas Department of Insurance, said statewide, homeowners policies have seen increases from 7.3 percent in 2013 to 3.7 percent in 2015.

"Texas consistently ranks among the highest states for homeowners premiums due to the array of weather risks that we face," Hagins said.

He said not only does the state face the potential of tornadoes in the spring but also the threat of high winds and pounding rains in the fall and flooding all year round. He said Texas routinely ranks right behind Florida and Louisiana when it comes to the cost of homeowner's insurance.

In Grayson County, Hagins said, homeowners insurance premiums have gone from an average of $1,323 in 2011 to $1,698 in 2015.

He said there isn't much one can do about some of the factors that play into Texans paying higher rates than some other states. But that doesn't mean there aren't things that one can do to save money on the premiums.

Hagins recommends that homeowners use a comparison shopping tool found at www.HelpInsure.com to select the type of plan they need for a price they are willing to pay.

"It's a free, anonymous service that makes it easy to compare sample prices and other factors from the 100-plus insurance companies in Texas writing homeowners policies," Hagins said.

He said another helpful resource is Texas Department of Insurance's consumer publication on homeowners insurance. It explains coverages and provides shopping tips.

For example, the publication says that most homeowners policies cover losses caused by things like fire and lightning, sudden and accidental damage from smoke, explosions, theft, vandalism, riots, cars or planes, windstorms, hurricanes, and hail, or sudden and accidental water damage. However, it notes that coverage for hurricanes and hail might be excluded if the property is on the Gulf Coast.

The publication said many people may not know items that are most often not included are flooding, earthquakes, termites, insects, rats, mice, pipes that freeze while the house in unattended, wear and tear, wind or hail damage to trees, mold (except for what is necessary to repair or replace property damage caused by covered water loss) or water damage that results from continuous and repeated seepage.

Also included in the publication are a number of definitions that homeowners might find helpful and explanations about how to decide how much of one's personal property inside the house will be covered in the event that the house is not a total loss.

The publication says that homeowners policies generally provide coverage for personal property as a percentage of the amount of home's coverage limit.

"For example," the publication says, "if your company insures your personal property at 40 percent of your dwelling coverage and your house is insured for $100,000, your items are insured for up to $40,000."

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