Texas no longer No. 1 in high home insurance rates
AUSTIN, Texas (AP) - An industry group says Texas homeowners no longer are paying the highest insurance rates in the country, a distinction that now goes to Florida residents.
The National Association of Insurance Commissioners released a report Monday showing that while premiums for Texas homeowners has dropped to third in the nation, it remains well above the national average.
The Dallas Morning News reports (http://dallasne.ws/19vxFYd ) the average annual cost of the most commonly sold policy in Texas is $1,578 while the national cost is $978. By contrast, the average policy for Florida homeowners is $1,933. Louisiana ranks second at $1,672.
The association's Mark Hanna says coastal states now include more expensive windstorm policies.
Consumer group Texas Watch notes that Texans are paying more for insurance but receiving less overall coverage.