Homeowners across Texas are feeling the financial squeeze as insurance premiums skyrocket , and extreme weather is a major driver.
A recent report from the Consumer Federation of America found that Texas has the sixth-highest average home insurance premiums in the U.S., at nearly $4,800. In the Dallas area, it’s even worse — $4,900 a year, a 32% jump since 2021, according to the Dallas Morning News .
Why? More destructive storms , rising construction costs, and loose state oversight are all playing a part.
What’s happening?
Texas experienced a 27% increase in premiums over just three years, according to the Dallas Morning News. The national average increase? $648. Insurers hiked rates in 95% of ZIP codes, costing U.S. homeowners an estimated $21 billion more in 2024 compared to 2021, as noted by the report…