A shocking new analysis reveals that nearly 13% of North Texas homes are underinsured, putting thousands of families at risk of financial ruin in the event of a disaster.
With average homeowners insurance premiums skyrocketing by a staggering 44% in just nine years, many homeowners are struggling to afford adequate coverage. State lawmakers are taking action to address this crisis.
“Our rates go up every single year even while people don’t file a claim or haven’t had a claim in years,” State Rep Chris Turner, from Arlington tells KRLD.
While insurers claim rising construction costs in disaster-prone areas and inflation are to blame, consumer advocates argue that state regulators need to do more to prevent excessive rate increases.
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