Boerne - Fair Oaks Ranch | July 2025

Real estate

BY JARRETT WHITENER

What to know about San Antonio area home insurance trends Over the last few years, Texas homeowners have seen increases in insurance rates, with an average increase of over 20% in 2023, according to the Texas Department of Insurance, or TDI. 21.1% 18.7% Homeowner average insurance rate change

From 2013 to 2021, average home insurance rates had single-digit percentage increases. In 2023, the average rate nearly doubled from the previous year, and in 2024, the rate increase dipped slightly from its 2023 level. Average increase

While the 2024 average saw a smaller increase at 18.7%, severe weather coverage and other home insurance challenges continue to drive up premi- ums across the state. In the San Antonio area, the most prominent coverages include fire, flood, wind and hail, said Lisa Smith, personal team lead at Miller & Miller Insurance Agency. What you need to know Home insurance premiums are dependent on various aspects of a property, including the appraised value, the age of the home, the proper- ty’s location and other factors. Smith said that some insurance agencies have stopped covering homes in the area due to concerns about wildfires. While the area has not experienced a wildfire recently, the ongoing drought has led to increased risks of fire, and some homes are within the areas marked as the highest risk. Aside from fire, Smith said the most common claims in the area are due to wind and hail. Smith said the average claim will cover around 2% of a property’s value for wind and hail damage, but homeowners should be wary of what is filed for a claim. “Insurance is for those really big moments,” Smith said. With an increase in hail-related claims and increasing roof replacement costs, agencies have also become more strict about the type of roof

10.8%

6.6%

5.9%

5.9%

4.8%

4.2%

3.7%

3.8%

2.6%

2.6%

2019

2013

2015

2020

2018

2014

2021

2022

2023

2024

2016

2017

NOTE: INCLUDES RATE CHANGE FOR OWNER-OCCUPIED HOMEOWNERS, TENANTS, CONDOS AND HOMEOWNERS POLICIES

SOURCE: TEXAS DEPARTMENT OF INSURANCE/COMMUNITY IMPACT

coverage included in a premium, often meaning homeowners will have to cover most roof repairs out of pocket. Breaking it down Statewide, insurance rates increased by sin- gle-digit values year over year until 2022, when rates increased by 10.8% on average. Between 2022 and 2023, the average increase saw a 10.3% point jump to around 21.1% before decreasing to an 18.7% increase in 2024. While rates are trending down compared to 2023, insurance rates continue to climb, according to TDI data.

The takeaway TDI officials recommend that consumers regu- larly shop for coverage to get the best rates. Homeowners are encouraged to carefully select their deductibles. Policies with higher deductibles generally have lower premiums, but require home- owners to pay a higher out-of-pocket amount for a claim. To help homeowners get the best rate or information on home insurance, TDI helped create policy comparisons for Texas insurance companies at www.helpinsure.com. Smith said local agents usually have the most up-to-date knowledge and information on a specific region, and can help get the best rates.

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