Skip to Content

Texas Approves Most Impactful Homeowners Rate Hikes in Q4'22

Homeowners insurance rates in Texas continued to increase in the fourth quarter of 2022 with the Lone Star regulators approving four of the top five most impactful rate hikes during the period, according to an S&P Global Market Intelligence analysis.

Regulators in Texas signed off on 32 rate increase requests during the quarter, which are expected to boost industrywide premiums by $425.5 million, the largest projected increase for any state for the quarter.

State Farm Mutual Automobile Insurance Co., the largest homeowners insurance underwriter in the U.S., received regulatory approval for the most significant rate increase during the last quarter of 2022. The 5% rate hike in Texas is estimated to increase State Farm's total premiums by $107.4 million and will impact more than a million policyholders.

Read More

More than half of the Best Practices Agencies in Texas have used IIAT's consulting services.

The sooner you reach out to IIAT, the sooner we can roll up our sleeves and get to work.

Contact the Consulting Team