I can certainly understand why with the mold problem the rates would need to be increased but I am having a real problem why my rates drastically increased while my coverage decreased (HOB to HOA). I have been a property adjuster for 35 years so It’s not like I can’t see what’s happening. The number of claims has decreased by a large percentage. There has to be some relief somewhere.
Now that mold losses have been addressed, what are the two greatest causes of homeowners losses in Texas? Windstorm and hail. These two perils account for the “lion’s share” of the homeowners premium. In the wake a widespread hailstorm, there are frequently higher material and labor costs driven by supply shortages. Texas will continue to see premiums that contain a large catastrophe rate loads as long as the frequency and severity of windstorms and hail storms remain unchanged. This is a concept that is not readily embraced by consumer groups.
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
I can certainly understand why with the mold problem the rates would need to be increased but I am having a real problem why my rates drastically increased while my coverage decreased (HOB to HOA). I have been a property adjuster for 35 years so It’s not like I can’t see what’s happening. The number of claims has decreased by a large percentage. There has to be some relief somewhere.
Now that mold losses have been addressed, what are the two greatest causes of homeowners losses in Texas? Windstorm and hail. These two perils account for the “lion’s share” of the homeowners premium. In the wake a widespread hailstorm, there are frequently higher material and labor costs driven by supply shortages. Texas will continue to see premiums that contain a large catastrophe rate loads as long as the frequency and severity of windstorms and hail storms remain unchanged. This is a concept that is not readily embraced by consumer groups.