Texas sees home insurance rates skyrocket as disaster costs pile up

As climate change fuels a stark increase in extreme weather, it is also driving up the cost of homeowner's insurance. In recent decades, Texas has seen more billion-dollar disasters than any other state, causing the price of homeowner's insurance premiums there to skyrocket. Scott Friedman, senior investigative reporter at NBC’s owned station in Dallas-Fort Worth, has more.

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#Texas #ClimateChange #HomeInsurance

[LuaraWattel]

I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. I plan to retire at 62 in another country outside the US that is free, safe and very cheap with a high quality of life. I could fully just rely on only my SS if I wanted to when that times arrives but I'll also have at least one pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Retiring comfortably in the US these days is almost impossible.

[ExpeditionNomadicAdventures]

A former vice president used two documentaries to predict these insurance rate increases, but no one believed him, just as homeowners are shocked and cannot believe the increases.
Climate migration will become the next predicted drama.

[AceLopez]

Yall still want to move to Texas? Based on this video, I wouldn’t and they didn’t talk about property taxes. They’re sky high too.

[WestShoreMan]

Lol all the Californians that fled a few years ago now moving back. Texas infrastructure, insurance and property tax is a train wreck.

[andrewbui]

so just like Florida, Texas doesn't actually care about helping their people recover from natural disasters. quelle surprise.

[ArizonaSquatch]

Texass refuses to invest in it's own state. From the infrastructure to education.

[mannymo]

Time to start building homes that are more resilient to storms.

[keithbetterton]

She doesn't understand the rate increase after having 3 roofs replaced ? Thats part of the problem

[garyjones]

The average cost to replace a 3, 000 square foot roof is $18, 000. If you replace the roof 3 times in 20 years due to hail damage, that is $54, 000 in claims just for hail damage. As a homeowner facing rapidly rising insurance premiums, that math is ugly & worrisome.

[katiehettinger]

If the insurance has risen in Texas wait till you see what's coming for Florida soon.

[virgobutterfly]

People don’t want to believe the climate is changing. Well…this is what you get.

[allen]

Homes are being built where they shouldn’t be built. Period.

[fargosnow]

Enjoy all your deregulation Texas. My thoughts and prayers are with you.

[MrMorefin]

What's the point of having any insurance if they dont want to pay for the help consumers pay them to do.

[JamesBrown-sieu]

Ban politicians from accepting campaign donations from insurance companies and watch rates go down. Insurance companies own the government in Texas, straight down to the courts.

[Sam-gsyb]

But Texas and Florida is so wonderful. 😂. Both hot, humid, flat, flooding, hurricanes, bugs/critters and now an insurance disasters other than that paradise.

[Ice_Solid]

That is odd? How are they paying more than what they are collecting but yet posting billions in profit?

[MsGemini]

How is it you can pay for home insurance for 10+ years without using it but the rates need to go up the one or two times it’s being used?!? Insurance is one of the biggest ripoffs!!!

[blossomx]

So the insurance companies can’t handle a loss so they pass the cost on to the people who have the loss.

[dionlee]

the heck is governor Abbott doing about all this?