HOUSTON — Finding the right insurance isn't always easy, especially in Harris County, where floods, freezes, and hurricanes have occurred in recent years. As property values rise, so does the cost of insurance. Add in the number of disasters we've seen in the Houston area and it's a recipe for higher prices.
"It's going up. It's getting more expensive over the last -- since we've been here," said Bruce Savatasky, a resident in Kingwood.
In Kingwood, memories of Harvey are still fresh on people's minds. In Savatasky's area, the bottom of his neighborhood where he's lived for 25 years, was underwater. This year, when he went shopping for home insurance, he was surprised by what he heard.
"We called our old agent and they said, 'Guess what Bruce? We are not taking on any new customers in the Kingwood area,' and I said, 'What?'" Savatasky said.
To be clear, he was able to keep his current policy but was disappointed there weren't more options.
According to Rich Johnson, director of communications for the Insurance Council of Texas, it's not necessarily getting harder to get insurance in the Houston area, but changes are happening.
"We are not seeing companies pull out of Texas like we are in California and Florida," he said. "However, companies are reassessing the risk in Texas."
Johnson said hurricanes have always been part of the equation in Harris County, but now companies also have to factor in the risk of a winter freeze.
"It was 2021 that really had a huge impact on insurance rates," Johnson said. "Over the last three years, we've seen as much as a 40% increase in insurance rates."
He blames the rising cost largely on inflation and the fact that supplies and labor cost more now, too. For flood-prone areas of Harris County like Kingwood, homeowners wonder if they'll get the coverage they need.
"It makes it a lot harder for the consumer, but on the other hand with the big storms and the flooding – the money has to come from somewhere," Savatasky said.
When insurance companies change their policies, they are required to notify the Texas Department of Insurance. A spokesman for the agency told KHOU 11, "Some companies have stopped writing new policies, or are being more selective" in some areas. Those filings are kept confidential.
If you aren't able to find insurance coverage, there's something called the Texas Fair Plan. It provides coverage to residential properties that are denied by other insurance carriers.
If you have a problem and need help, email GraceCanHelp@khou.com, call (713) 521-HELP or fill out the form below.