CORPUS CHRISTI, Texas — Hurricane season is around the corner which means it may be time to go review your homeowners insurance policy. Several homeowners are experiencing an increase in insurance rates, some are even seeing double.
Ed Cantu has worked in the insurance industry for 39 years in the Coastal Bend. He says the rates have been on the rise.
"Being along the Texas Coast definitely does impact the cost of insurance," Cantu said.
According to Insurance.com, the average cost of homeowners insurance in Texas is $4,142 a year. That's $1,361 more than the national average.
"They don't understand that the cost of insurance is so high because of the windstorm aspect," Cantu said.
Several Coastal Bend residents like Michele Glick went from paying $2,100 to paying almost double that amount if including Texas windstorm insurance.
"The standard, regular homeowners we're paying $1,100 and for the TWIA we are paying just over $2,400...almost $2,500, so that would be about $3,600 now," Glick said.
Although the rate increase is high, Cantu said now more than ever it's crucial that people buy insurance policies for their home.
"That's a major investment that you have, probably the most expensive, or the highest value investment that you purchase in your entire life," Cantu said. "And to have it all disappear within one incident whether it's a fire or a hurricane is devastating."
Glick has experienced several hurricanes and although her family has made some budget cuts to afford insurance, she said it's worth it.
"Whatever you can cut, you should probably cut," Glick said. "Because if you don't have windstorm insurance and they're saying it's going to be an active year, I kind of believe them."
Cantu said it's important homeowners understand what is covered in their insurance policies.
"We highly suggest that you buy flood insurance too because although you have windstorm insurance," Cantu said. "When a hurricane hits the heavy rains and the tidal surges that the hurricane cause, it's not covered in windstorm portion of the policy that has to be covered on a separate flood policy."
Cantu urges everyone to review their policy before the start of Hurricane season, which is June 1.