Just got our renewal policy and almost fainted. To begin with a good while back our paper said Texas has the highest homeowners rates in the country, and the coastal residents pay the highest rates in Texas. I alreay knew tht my sister in NC lives 125 miles inland, has just about the same amount of coverage as we do, has had one claim for burst (frozen) water pipe and for roof and other damage from Hurricane Fran pays 1/3 the amount we do--and we have never had a claim of any kind.
Lat yer some of the inland politians decided "their" people should not have to p;ay high premimums to cover the homes of folks "chosing to live in a dangerous area" and worked on getting our rates hiked. Independent study showed that 40% of the state income comes from the small coastal area. We have huge ports in Houston, the 45h larges US port is in Corp[us. There are many factories, refineries, etc that sit on the water, needing the water ways for transportation of various stuff. About 90% of all gas, oil, etc used in the stte is refined in these refineiers down here.
Those people do not seem to realize that in order to have ports, factories, refineries, etc, people have to work them, and therefore have to live in the coastal area. And if people live here to work those places, there has to be schools, hospitals, doctors, stores of every kind, etc and if they are here, people have to work them. Andthen of course what about all the inland people that want to come down here toswim and fish--they want hotels to stay in, camp grounds or RV parks, resturants, stores. But they don't think of how much people living here benefit THEM'I
We got transferred down here 22 years ago and have had to evac 4 times for hurricane threat to Corpus area, but luckily, we always avoided a hit. however, i know that any year my home and everything i own, can be destroyed. things that go back to my childehoo. (and I will be 65 in June, that is a lot fo things to lose). But hubby drives a rig hauoling stuff from the plants that sit on the coast.
Got our new homeowners plicty Friday and our insurance took a 17% increase. Imagine we were already paying the highest rate in the country and it just took a 17$ jump. if this keeps up people who hae lived and worked here all their lives, or most of their lives and have paid on a home for 25 years and finally have it paid off, want to live in rtirement may end up having to sell (if anyone would be crazy enough to buy down here) and move inland . So sad.