Corpus Chrsti (KIII News) — A decision to increase windstorm insurance rates for coastal communities could come as soon as October.
In a few weeks, the Texas Commissioner of Insurance will decide whether to approve a 10-percent rate hike recently proposed by the Texas Windstorm Insurance Association.
On Monday, state leaders along with several representatives from the local Chamber of Commerce joined others in Galveston to unite in their fight against the proposed rate increase.
As a deadline looms, local leaders are rallying to fight back against the proposed rate hike that could drastically impact homeowners in the Coastal Bend.
"We are going to stand up to fight. I'm going to do everything I can to stop this. It's not right. It's wrong," State Rep. Todd Hunter said.
The increase would impact 14 coastal counties. The average premium on a TWIA residential policy is about $1,600. A 10-percent hike would roughly mean $160 increase per year for the policy.
According to Hunter, the increase could end up costing coastal residents much more.
"If the rates go into effect, they are going to immediately send out bills to our home, try to get as much money as they can. We're being told it's 10. We're being told it's actually 14. A big blow to the coastline," Hunter said.
Recently a rally against the hike took place in Aransas Pass, which is one of several communities where residents are still trying to get back on their feet following Hurricane Harvey.
"Many of our policyholders here are still trying to resolve their unresolved issues with TWIA," said Cleo Rodriguez Jr., President of the United Corpus Christi Chamber.
Rodriguez said the increase would have a negative impact on the local economy.
"Not only does it mean an increase in premiums, but businesses are going to see an impact on their premiums, the school districts are going to see an impact on their premiums. All of that means it trickles down to the consumer," Rodriguez said.
According to Rodriguez, residents can help fight back by having their voices heard. One way residents can fight is through a petition that they can find on the Chamber's website.
"They got to hear from us. If they don't hear in numbers, they'll say we don't care," Hunter said.
A rally against the tax increase will be held at 7:30 a.m. Monday, Sept. 24, at the Solomon P. Ortiz Center.
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