Pasa Tiempo and Cambria Cove Neighbors.

Home insurance!

Home insurance doubles

Many home owners in El Paso are paying double what they did last year for home insurance - some even more than that.
A home is the biggest investment most of us will ever make, and protecting it just got a whole lot more expensive.

"Insurance rates in Texas have gone up for a number of reasons," explains Justin Schmitt from Allstate Insurance.

Like all other carriers in Texas, Allstate has raised its rates anywhere from 25 to 100 percent.

"The primary reason home insurance rates have gone up is because of the policy language in Texas, which has mandated the most expansive water coverage of all states, and its turned an insurance policy into a home maintenance policy," says Schmitt.

The big factor - mold. An explosion of mold and other water claims has stunned the industry. Now the state is allowing cheaper, but more restrictive policies. They would cover water damage only if it's sudden and accidental.

As a result of those changes, companies like Allstate and Farmers will soon be offering new policies that can save homeowners as much as 20 percent. This new breed of homeowner's policies should be available by the end of the month.

There are other things one can do to save money. Taking on more of the risk by raising your deductible will lower your premium, and insuring your car and your house with the same company can save you money too. Finally, shopping around for a better rate can pay big dividends.

Pasa Tiempo and Cambria Cove check with your insurance company to see if this has an impact on you. Good Luck!!