Abbott Unveils Plan That Could Cut Texas Home and Auto Insurance Costs
· Texas Border Business
Texas Governor Greg Abbott announced a legislative plan on July 15 aimed at reducing home and auto insurance costs, which have been a growing concern for residents. Abbott highlighted that Texas has some of the highest home insurance rates due to severe weather, including hail and hurricanes. His proposal includes a roof fortification grant program to help homeowners strengthen their roofs, potentially reducing insurance premiums by 8% and saving over $15,000 over a roof's lifespan. Additionally, Abbott seeks to change state law to allow insurers to consider safe driving records when calculating auto insurance premiums, potentially lowering costs by up to 30%.
AI summary · Source: Texas Border Business →
