State Farm – 4.5% Increase Of Home Insurance Rates In Texas
State Farm has informed the Texas Department of Insurance that it plans to increase the Home Insurance rate by 4.5% on average. TDI has no other option other than requesting the State Farm to reconsider the decision keeping in mind the fact that State Farm has last increased the rate by 8.8% barely 8 months back. It should be noted that State Farm has 30% of the Texas Home Insurance cover. Other Home Insurance companies will follow suite if State Farm doesn't reconsider the rate increase.