Weather is main cause of Texas car insurance increases

Posted at 7:18 PM, Aug 16, 2016
and last updated 2018-06-19 15:00:53-04

All this rain we’ve been getting and will get this week in Central Texas might not help your car insurance payments.

Data from The Zebra show Wacoans pay, on average, more than $1,600 each year for car insurance. According to the Austin-based car insurance comparison company, that's a 40 percent rise over the last five years, and on par with the rest of Texas which happens to be the fifth most expensive state for car insurance.

The company’s consumer adviser and licensed insurance agent, Neil Richardson, said the number one reason is severe weather.

"There have been billions of dollars worth of insurance claims paid out in the last five years, not even factoring in vehicle theft or accidents, just strictly weather damage and that's really been a driving force in why Texas residents are paying so much for their insurance,” Richardson said.

On top of the weather problem is population growth. Richardson said as more people move to Texas, the insurance rates go up because more drivers file claims after severe weather hits.

There is some good news, though. Data from The Zebra show rates in Waco are heading in the right direction. They’re down more than seven percent, from $1,788, in 2015.

Your rate can vary greatly depending on where you live, according to the Zebra.

Within the city of Waco, the 76707 zip code saw the largest increase in rates, up 47.8 percent. That's a $551 a year increase over this time period.

Within the city of Waco, the 76798 zip code saw the smallest increase in rates, up 22 percent. That's a $423 year increase over this time period.

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