AUSTIN, TEXAS — While Republicans continue to look the other way on the costs of their disastrous “look the other way” approach to climate policy, extreme storms are driving Texas home insurance costs sky-high. As reported by the Washington Post, a new study estimates Texas will be the fifth most expensive state for home insurance by the end of 2025.
No other state sees as many natural disasters as Texas. Wildfires in the panhandle, hurricanes in the bay, and drought throughout West Texas have become more common and exponentially more costly in recent years.
Texas regulators have repeatedly pointed to the high number of home insurance companies selling plans in the state. But for the Texans paying thousands and thousands on home insurance premiums, a diversity in premium recipients is little consolation. Last year, premiums rose by nearly 19 percent last year following a 21 percent increase in 2023.
While Republicans continue to exacerbate the costly climate crisis, House Democrats are taking steps towards affordability. HB 5519, filed by Rep. Martinez Fischer, stops unjust rate hikes from residential and personal car insurers. HB 4635, filed by Rep. Garcia Hernandez, stands up for Texans whose insurance claims have been denied by artificial intelligence.
“Home insurance costs in Texas have become a crisis,” said Representative Hubert Vo, Vice Chair of the House Insurance Committee. “Without additional measures, costs will continue to soar. Hard-working Texans deserve a state government committed to helping keep their insurance costs affordable. From taking action to slow down costly environmental disasters to protecting homeowners from unfair homeowners’ insurance rate hikes.”
“Climate disasters aren’t hypothetical. It’s no ‘hoax’ – Texans are already facing billion-dollar crises with flooding in the Rio Grande Valley, drought and wildfires in West Texas, and hurricanes in the Greater Houston area,” said House Democratic Caucus Chair Gene Wu, “Homeowners insurance costs will continue to hurt our families and destroy Texas’s reputation for affordability unless we take urgent action. The Legislature must fix this affordability crisis, keep Texans safe in their homes, and protect homeowners from the costs of climate change.”