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Understanding Rates


Texas law requires rates for insurance offered in Texas to be reasonable, adequate, not excessive to the risks for which they apply, and not unfairly discriminatory.

Residential property rates utilize a system called “file and use” Under this system, companies file their rates with TDI, but they do not need prior approval to implement new rates. If TDI determines that a company’s rates are excessive, the company can be ordered to pay refunds to the policyholders it overcharged. Companies can appeal adverse rate decisions.

A company can only change your individual premium at your policy renewal time.