Windstorm insurance could rise 10 percent along coast
HARLINGEN — Hurricane Harvey is now hitting Cameron and Willacy counties.
The Texas Windstorm Insurance Association has proposed a 10 percent hike in what are known as windstorm policies eligible only to residents of 14 coastal counties, including these two.
If approved by the Texas Commissioner of Insurance — the deadline for a decision is mid-October — the average windstorm policy for coastal customers will rise from $1,589 a year to $1,745 in 2019.
“TWIA is the backstop for folks who are either declined by a regular company or they can’t get the coverage they want through a regular company,” said Jerry Hagins, a spokesperson for the Texas Department of Insurance.
Read more: https://www.valleymorningstar.com/news/local_news/windstorm-insurance-could-rise-percent-along-coast/article_bdadb5b4-94dd-5e38-b7de-0abb6c798071.html
