KPRC 2 spoke with insurance agent Leash Yu with Higginbotham Insurance about how the storm could impact insurance rates.
This week’s Insider Deals are so good you’ll want all of themHe said the Texas Department of Insurance does not allow insurance carriers to increase rates for filing natural disaster claims. However, if more major weather events hit the area, rates could increase over time.
“My home in particular, I live in West University in a low-risk flood zone. My home used to be $572 a year for flood insurance but the new rate for my home—if someone were to buy my home with flood insurance now, is almost $2,200,” said Yu.
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