Home   |   About us    |   Site Map   |   Contact us  |  Instant Quotes


Whether you believe it or not, there are 50~70 percent of Texan homeowners are underinsuraned. The reason why they are underinsuranced is the homeowner insurance premium jumped sharply in recent years. In Texas, the size of increase of homeowner insurance in 2002 is 57percent. In the Summary Report for The Texas Legislature issued on March 28, 2003, homeowner insurance rates are excessive by up to 25 percent. The reason for that given by the Department of Insurance is mold. Robert Hartwig, Chief economist for the Insurance Information Institute, said that the Texas homeowner insurance market was the most dysfunctional in the U.S. today. A confluence of a lot of events had brought the market to the brink of collapse. The event caused the public anxiety happened in 2002. In the year, the biggest and the 2nd biggest insurance company, State Farm and Farmers Insurance, reduced their homeowner insurance coverage in different ratio. Both of the ratios were not small. As a result, many mold damage claims were filed. In 2003, 5 insurance companies were ordered to reduce their rates of home insurance ranged from 10 percent to 22.4 percent. During the period from 1999~2001, the cost of home repair rose 17.3 percent. And there are a number of tough days waiting ahead for Texans.