Allstate, Others Reduce Texas Home Rates
NU Online News Service, Sept. 8, 1211 p.m. EDT?Homeowners insurers in Texas have started agreeing to rate reductions Insurance Commissioner Jose Montemayor is seeking pursuant to a state law mandating a homeowners insurance rate rollback.
On Wednesday, Nationwide, Safeco, Consolidated and Republic agreed to rate reductions ranging from 12 to 20 percent. About 20 insurers, including State Farm, one of the two largest homeowners insurers in the state, have opted for a hearing to argue against proposed rate decreases.
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