Stats in Your State
To get a better sense of the Texas housing market, compare the cost of homeowners and renters insurance in Texas, and the risks posed to homeowners, read on through the charts below.
Homeowner Insurance Premiums
Considering the natural disasters many Texans face – tornadoes, floods, hurricanes, fires – on a yearly basis, it’s no wonder that the average Texas home insurance premium has often been roughly double the national average during the mid-2000’s.
Renter Insurance Premiums
While not as dramatic as the difference in homeowners insurance premiums, renters insurance in Texas is still well above the national average.
Existing Home Sales
At nearly 600,000 home sales, the Texas housing market peaked in 2006 to coincide with the housing market bubble. Following this was a sharp decline over the second half of the decade.
Flood Insurance in Region
Though many think of it as a desert or prairie state, Texas still suffers from its fair share of flooding. Nearly 250 claims were filed for flood damage during the year beginning October 1, 2011.
Texas has expanded and increased its population immensely in the second half of the twentieth century, with roughly three quarters of its residential buildings constructed after 1960.
Rules in Your State
The rules for homeowners insurance are clearly defined by the Texas Department of Insurance Consumer Bill of Rights. The TDI has also recently held hearings allowing for comment and input from consumers and insurers as to revising and re-wording the bill of rights to be more specific and consumer-friendly.
Texas Department of Insurance Consumer Bill of RightsThe Consumer Bill of Rights provides a list of Texans’ rights regarding homeowners and renters insurance.
Representatives & Resources in Your State
Consumers have a strong advocate in the Texas Department of Insurance. Check through their website for more information and guidance on how to start a formal complaint against an insurer or simply learn more about the rules in your home state.
Texas Department of Insurance Ombudsman
P.O. Box 149104
Austin, Texas 78714-9104
Price Comparison and Rate Guide
Homeowners Insurance Price Comparisons / Rate Guides
Texas offers this home comparison tool that provides you with sample rates.
Disaster Relief and Claims
FEMA Region 6 Contact Information
Contact your regional FEMA office with disaster relief or claim question you have.