Rising Home Insurance Costs in Texas: The Impact of Severe Weather and Economic Factors

May 22, 2024

Home insurance costs in Texas have significantly increased recently due to several factors. Severe weather events, including hailstorms, ice storms, and wildfires, have been particularly damaging. For instance, Texas experienced 458 major hail events in 2022, leading the nation in such occurrences. This high frequency of claims, especially for roof and exterior damage, has driven up premiums as insurers cover the rising costs of claims and repairs.

Rising Texas Home Insurance Rates: What You Need to Know – Policygenius](https://www.policygenius.com/homeowners-insurance/why-texas-home-insurance-rates-are-rising/)

Texas home insurance rates rising fast: What you need to know](https://www.insurance.com/home-and-renters-insurance/texas-home-insurance-rates-rising-fast).

Economic factors such as inflation and supply chain issues have also played a role. The cost of materials and labor for home repairs has surged, pushing insurers to raise premiums to cover these increased expenses. From 2018 to 2022, home replacement costs outpaced general inflation, contributing to higher insurance rates.

Rising Texas Home Insurance Rates: What You Need to Know – Policygenius](https://www.policygenius.com/homeowners-insurance/why-texas-home-insurance-rates-are-rising/).

Additionally, Texas’s unique legal environment, with a relatively high number of lawsuits, further increases insurance costs

Why Is Texas Home Insurance So High? Causes of Increasing Premiums](https://www.texasrealestatesource.com/blog/why-is-texas-home-insurance-so-expensive/).

The average annual cost of home insurance in Texas was $3,875 in 2023, more than double the national average. Insurers have also become more selective, sometimes non-renewing policies in high-risk areas, though they have not completely pulled out of the state.

Texas Utility and Insurance Increases Likely in 2024](https://www.governing.com/finance/texas-utility-and-insurance-increases-likely-in-2024)

Texas home insurance rates rising fast: What you need to know](https://www.insurance.com/home-and-renters-insurance/texas-home-insurance-rates-rising-fast).

For homeowners looking to mitigate these rising costs, strategies include shopping around for competitive rates, maximizing available discounts (such as bundling home and auto insurance), and improving home resilience against severe weather by installing impact-resistant materials.

Why Is Texas Home Insurance So High? Causes of Increasing Premiums](https://www.texasrealestatesource.com/blog/why-is-texas-home-insurance-so-expensive/).

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About the Broker/Owner

Marcus Bruno

I am a licensed real estate broker with over 20 years of experience in the industry. I started my career in 2000 as a real estate agent, and in 2010 I became a broker. I have a passion for helping people find their dream homes and negotiate the best deals. I specialize in residential real estate, and I have extensive knowledge of the local market and trends. In 2015, I moved to Houston with my family and in 2018 opened Bruno Fine Properties Inc, a real estate brokerage that serves the Spring area and surrounding communities. I am a proud father of five beautiful girls, and I have been happily married to my wife Malika Bruno since 2003. When I am not working, I enjoy spending time with my family, playing golf, and reading. I am always eager to meet new clients and look forward to sharing my knowledge.

Remarkable service for remarkable you!

testimonials

Outside of real estate knowledge (which is important...), Marcus brought a "human" component to my house search. I was consistently being out-bid and I was becoming frustrated and despondent. He was able to keep me motivated and I ended up with a gem of house that has now almost doubled in value. He had patience with the situation and with me...I know I can be a handful :)

Mrs. Kelty

What struck me most was that when I asked a question, I got an honest response, and when the facilitators didn't know the answer, they knew where to look up the information and get back to us about it. One of the great aspects was that there was an attorney present to give answers "from a legal point of view". Lastly, the handouts were clear and concise--really helpful and not something to put away in a binder forever and always. I would recommend this seminar to anyone who is planning to buy or sell a home and is new to the world of real-estate.

Tamika and James Wright

I wanted to write you to tell you how much your experience in real estate made my purchase of a house so easy. Your ability to qualify me for a house was fast, and by using your website, I was able to make my selection of houses from my home. And after I chose the house you did the rest: inspections, appraisal and finally the loan. Even settlement was a breeze-you made it all happen smoothly.

Bob Keller

Marcus helped my wife and I purchase our home in 2013 and the experience was amazing! We really benefited from his vast knowledge and expertise in real estate. Marcus has a way of taking the stress out of the home buying process through patience and willingness to answer all questions in detail, no matter how many times you ask the same question. From the initial consultation all the way to the closing table, there was a very relaxed, pleasant and worry- free vibe that he created. Marcus has proven to be not just a professional but a friend who cares and we appreciate him to the fullest!

Jon Mccoy

Marcus worked with me to purchase my first home in 2014 and it was a great experience. There were a lot of things I didn't know as a first time homebuyer, but with his extensive knowledge and guidance, I felt like an informed consumer. Marcus was very responsive, which is very important and reassuring during the home buying process. He took the time to explain every part of the process, including on closing day! I would highly recommend Marcus to anyone, and have, you will not be disappointed!