Homeowners Insurance Texas: How To Deal With the Highest Insurance Costs In The Country

You might find it hard to believe that homeowners insurance in Texas is the most expensive in the entire United States. You might think that states like California, Florida, or South Carolina might have higher expenses for homeowners insurance because of all of the natural disasters, but Texas’s costs for homeowners’ insurance generally doubles other states’ costs.

Why might costs for homeowners insurance be more expensive in Texas than other states in the US?  Texas is like a combination of Louisiana and Oklahoma; it gets destructive hurricanes, tornadoes, thunderstorms, and hail that can be the size of golf balls. Texas is a large state which frequently experiences destructive storms that destroy entire homes and cause this state’s homeowners insurance to be higher.

A Comparison of Average Premiums

Texas’s average annual premium homeowners’ insurance cost is $1328, which may not seem like a lot of money in general, but is a lot of money for insurance. Louisiana’s average annual premium homeowners insurance cost is $975, which is 2nd most expensive because of poorly built structures. Oklahoma’s average annual homeowners premium insurance cost is $925, third most expensive because of twisters and frequent wind storms damaging homes frequently. All three of these states have high costs because of these destructive storms they experience.

The top ten states with the most expensive homeowners are (states in order from one to ten) Texas, Louisiana, Oklahoma, Florida, Washington D.C., Mississippi, Kansas, Colorado, California, and Minnesota. Minnesota being number ten is still pretty expensive for homeowners insurance; $733 (which is its average annual premium homeowners insurance cost). California ranked number nine, experiences mudslides and earthquakes would make you think it would be number on or number two, with $753.

Costs Reflect More than Just How Many Homes are Affected

Hurricane prone Florida and Louisiana would seem like their costs would be higher because of all of the hurricanes they experience there but they don’t.  It comes down to the amount of storms and the number of homes destroyed, and also the location. The area, in which one state might be in, might not have the natural resources to build the homes on hand so they would need to import resources which would cost more money.

People that have moved from more northern states into Texas have found that their insurance bill doubles, taking more of the money some people just don’t have. Bob Hunter found the same thing when he left Virginia to come to Texas and became a Commissioner of Insurance.

Some people in Texas would laugh and say that homeowners insurance, just like other things in their state, is GIANT-SIZED.

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