Climate Change Is Driving Texas Home Insurance Through The Roof

Texas has the third-highest home insurance rates in the U.S., following Florida and Louisiana, primarily due to climate change increasing storm frequency. Home insurance rates in Texas rose 14% from 2022 to 2023 and 77% since 2014. Homeowners must also purchase separate windstorm and flood insurance, adding to costs. Texas lacks strict regulations, allowing insurers to raise rates without oversight. Many homeowners are opting out of insurance or leaving the market due to affordability concerns, as climate change continues to drive up costs.