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Texas residents are increasingly facing damaging storms that drive up home insurance rates and other housing costs. Ahead of the state's 2027 legislative session, consumer advocates and insurance industry representatives are urging lawmakers to consider affordability solutions.
What's happening: The average Texas home insurance premium—the amount paid to an insurance company—was $3,291 in 2024, according to the latest Texas Department of Insurance data. In total, premiums rose about 50% between 2022-24.
Texas’ high propensity for natural disasters has been “the No. 1 driver” behind recent rate increases, said Rich Johnson, a spokesperson for the Insurance Council of Texas.
Stay tuned: While Texas can't legislate itself out of weather risks, lawmakers have considered some policy changes to increase disaster resiliency and boost regulatory oversight of the insurance industry. Proposals range from creating grants to help residents weather-proof their homes to placing limits on future rate hikes.
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