Abbott Unveils Plan That Could Cut Texas Home and Auto Insurance Costs
· Texas Border Business
Texas Governor Greg Abbott announced a legislative proposal on July 15 aimed at lowering home and auto insurance costs, which he noted are major concerns for Texans. Abbott highlighted that Texas has some of the highest home insurance rates due to severe weather, including hail and hurricanes. His plan includes a roof fortification grant program offering homeowners about $10,000 to strengthen roofs, potentially reducing premiums by 8% and saving over $15,000 over the roof's lifespan. Additionally, Abbott proposed changes to allow insurers to consider driving records when setting auto insurance rates, which could lower premiums by up to 30%.
AI summary · Source: Texas Border Business →
