After not filing what had become an annual 5% rate increase for 2017, TWIA decided it needed to do so for 2018. If Texas goes without a major or any hurricane in 2017, I will have to really question the rational to increase rates in an area with minimal losses for the past five years.
Why continue to be insured with a wind insurer that continues to raise rates annually, requires repairs & additions be WPI-8 engineered certified, and if they can’t meet their obligations to pay their claims, has the ability to surcharge policyholders up to 70% of their premium.
With that being said, if you live in one of the 14 coastal counties of Texas, Franke Insurance Services has alternatives to TWIA. Several of these options are standard homeowner policies which include wind coverage, with some willing to provide a 1% wind/hail deductible, at reasonable rates. Instead of being denied insurance or being surcharged for not having a WPI-8, why not insure with a company that gives you a discount for having it.
Call today and discover better options.