Lubbock & others slapped with huge insurance rate hikes - KCBD NewsChannel 11 Lubbock

5/30/10

Lubbock & others slapped with huge insurance rate hikes

By James Clark | email

LUBBOCK, TX (KCBD) – Lubbock is among a few other places in Texas that are facing some potentially huge increases on home owner's insurance according to two proposed rate hikes by State Farm. 

In the online publication insuranceNewsNet  the average increase statewide will be 13% but for some in Lubbock, the Metroplex, Houston & South Texas the increases could be as much as 39%. 

KCBD NewsChannel 11 doubled checked the claim by looking at numbers provided by the Texas Department of Insurance.  It does look like Lubbock homeowners could be paying 32.5% more as compared with rates prior to August 31st of 2009.  According to insuranceNewsNet, the Texas Department of Insurance is trying to pressure State Farm into not raising rates as high because other insurance companies might follow State Farm's lead. 

 Copyright 2010 KCBD. All rights reserved.

 

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