Insurance advocates question State Farm’s high premium charges
State insurance advocates are questioning State Farm Insurance over its excessive charging of premiums, which is much higher compared with at least 30 insurance companies who sell policies to Dallas homeowners. New rates presented to the Texas Department of Insurance (TDI) this summer show that Texas’ largest property insurer has also the highest rate in premium charges – 35 percent higher compared to last year.
State Farm spokeswoman Patti Kelly disagreed with the allegations, stating that the analysis made by The Dallas Morning News does not include the customer discounts on policies for home and vehicles, and other significant points. However, Texas Watch representative Alex Winslow stated that State Farm has been taking advantage of overpricing homeowners insurance by taking the TDI to court.
The Public Insurance Counsel office has confronted this recent increase by State Farm in a pending case in Austin presided by a two-judge panel where a $350 million refund is being studied.
If you are experiencing problems with your insurance company and insurance claim in Dallas, speak with a lawyer at Smith Kendall, PLLC, by calling 214-361-6124 today. We can help you fight to get the coverage you need.