Texas homeowners face rising insurance costs, fewer options
Progressive Insurance is the latest insurer to announce it will stop writing new homeowner's insurance policies in Texas, at least temporarily.Texas homeowners are getting hit with a one-two punch. First from storms that hit the Gulf Coast each year.
Second, from rising insurance rates and fewer insurers.FOX 26 Houston is now on the FOX LOCAL app available through Apple TV, Amazon FireTV, Roku and Google Android TV!Data from the Texas Department of Insurance shows homeowners' insurance premiums have increased 44% from an average of $1600 in 2013, to $2300 in 2022. In 2023, S&P Global reports the average premium rose another 23%.
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