From KPRC Houston:
Consumer advocate John Cobarruvias urges people impacted by rising claims, non-renewals, or other issues to submit comments to state legislators.
“This is your opportunity to make something happen in our favor,” Cobarruvias said. “Our premiums are too high. Our deductibles are out the roof. And this is not sustainable. We’ve got to do something.”
KPRC interviewed Floyd Beaman. He is a lobbyist for Texas Coalition for Affordable Insurance Solutions. They are composed of 6 of the largest insurance companies in Texas, USAA, Farmers, Farmers Bureau, Nationwide, Allstate, and State Farm. Of those only USAA will write policies in the Bay Area. The insurance companies see blood in the water and will lobby heavily to make it easier for them to make money and charge you more.
So what can you do?
Either stand up and speak out, or sit down and shut the hell up. The first hearing will be by the State Affairs Committee on Sept 17, 2024. Details on how you can participate in person or by sending comments can be found here. You can send your comments electronically at this link: https://comments.house.texas.gov/home?c=c450 Fill out the top form then scroll down and select “Economic challenges impacting insurance premiums”.
Here are some tips on what you should include in your comments:
- The area of the state you live in such as coastal counties
- What you are currently paying for insurance
- The costs of any new policies or bids
- Your Deductibles in dollars
- Any claims you have had
- Cost of repairs
- If your current company will not renew your policy
- Keep it short and with a statement of “Our premiums are too high. Our deductible are out the roof. This is not sustainable”.
- Stay non confrontational. Refrain from “I’m going to vote you out if you don’t do something” type of comments
- Demand that they take action
Thank you for your interest in this issue! Please invite others to join us in address this situation. They can join our newsletter attinyurl.com/BayAreaHouston
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The cost of homeowners insurance renewals is unrealistic for middle America. I have seen rates goes from $3000/year to $7000 3 years later. This is unacceptable. Swift insurance.
[…] invited to speak at every insurance meeting to date. Floyd Beaman, their spokesman, was recently on KPRC making excuses for the insurance industry and telling us to “shop around” as if that […]
league city, tx in Galveston county. My home insurance had increased by $200. I was paying per year last year at $490 and this year it is $690. My windstorm last year was $2,490 and this year it is $2,900. This is getting ridiculous. There has to be some regulation on increasing cost. If this is the route, there will be a lot of people selling their homes because insurance rates is getting ridiculous.