How Much Cheaper Will Health Insurance Be After The Federal Government Gets The Greedy Insurance Companys Out?

the difference between affordable and ridiculously expensive is 6%?http://www. kansascity. com/news/nation/st…

Won’t Cheap Government Health Insurance Put Free Market Insurance Companies Out Of Business?

I mean. . . if someone is offering cheaper health insurance than what you have, won’t you be more inclined to switch? yeah Obama says you can keep what you have, but why would you if you can save money?

What is the Average Cost of Texas Home Insurance?

The average cost of Texas home insurance in 2009 was $1409 which is 58 percent higher than it was in 2008. Further, it is 58 percent higher than the next highest state which is Florida. In fact, the national average for homeowners insurance is only $804.

The reason the average cost of Texas home insurance is so high is because of the number of claims due to hail, tornado and wind damage. There also is the issue of mold. In 2003, the state legislature passed a law requiring companies to pay out for mold treatment. This increased the overall cost of homeowners insurance as well. While both mold and weather damage are low-ticket items, there are a lot of them so it adds up.

Is it fair that Texas residents have to pay so much for claims that are low compared to hurricanes and earthquakes. Well, you have to realize that in Florida, for instance, homeowners are required to purchase a separate hurricane rider which is in addition to their normal homeowners insurance. This makes the cost of their homeowners insurance look like it is lower but for comprehensive coverage, they need additional insurance.

Another issue is catastrophe funds. Texas requires it while other large states like Florida and California do not.

This, however, comes as no relief to Texans who constantly see their insurance rates rise by double digits each year.

Elected officials are aware of the discontent among the population. They are currently exploring ways to lower insurance rates or at least keep them in check. One proposal circulating will require larger insurers get the permission of the Department of Insurance to raise rates.

Still, as long as the Lone Star State continues to have weather related home damage, you can expect the average cost of Texas Home insurance to increase every year.

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