Most Texas Insurers profited despite Rita

[Guest guest]

Most Texas Insurers profited despite Rita

http://www.kten.com/Global/story.asp?S=4671086

KTEN Local News

AUSTIN, Texas Texas home insurers turned substantial profits last

year, despite Hurricane Rita's destruction.

That's prompting state regulators to question whether some

companies' rates are too high.

Most of the state's home insurance companies posted big earnings in

2005, although nowhere near as high as 2004's record profits. That's

according to Texas Department of Insurance financial reports.

Texans pay the highest home insurance premiums in the country.

Insurance industry spokesman Jerry s says insurers suffered

during the early part of the decade due to massive water and mold

losses. Those losses led to record premium hikes, and he says the

industry is " entitled to a few good years after so many unprofitable

years in the past. "

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Information from The Dallas Morning News: http://www.dallasnews.com

[Guest guest]

>>--On Behalf Of tigerpaw2c

AUSTIN, Texas Texas home insurers turned substantial profits last

year, despite Hurricane Rita's destruction.

That's prompting state regulators to question whether some

companies' rates are too high.

Texans pay the highest home insurance premiums in the country.>>

I didn't realize we have the highest home insurance premiums in the country.

Thanks for posting this.

I just finished paying our home insurance for the year; spent weeks

researching the various companies, their plans and rates.

I remember in 2002 after Tropical Storm caused so much damage, our

premiums tripled but the policy was downgraded in coverage.

Only a few companies are offering mold coverage and unfortunately the extra

cost in premiums are too expensive for us and many other homeowners.

Wondering if homeowners in other states still have affordable mold coverage?

Rosie