Inflation stinger: Texas auto insurance rates soar 24%, homeowners rates up 11% | mitchschnurman
, a Washington nonprofit. “For many years, we’ve been advocating for regulators to stand up for consumers and carefully look at insurance rate requests — and not be afraid to disapprove them.The Texas Department of Insurance, known as TDI, said it reviewed 2,590 rate filings in 2022. Insurers withdrew 229 filings for various reasons and 108 were rejected for technicalities, such as filing under the wrong business line or not providing enough information.
, a spokesman for the Insurance Council of Texas. “Cars are more expensive, and there are more accidents, more injuries and more medical bills.” State Farm, one of the largest auto insurers in Texas, said it’s continually monitoring trends and making adjustments to balance price and risk.
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