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Texas Insurance Rate Cuts to Save Homeowners $25 Million
The State Board of Insurance ordered rate reductions effective January 1, totaling about 25 million dollars annually in savings for homeowners dwellings. Gov. Preston Smith praised the board and linked the cuts to issues raised in the fall special session. Reductions covered extended coverage and homeowners package policies with varying regional percentages. Fire rate cuts followed, including 12 percent for brick veneer and similar homes, with a three percent increase for brick dwellings.
MENTIONED IN THIS ARTICLE
Austin
State Board of Insurance
Preston Smith
North-northwest Territory
Central Inland
Seacoast
Gulf