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Alief, Texas - State Representative Hubert Vo today welcomed the decision by state officials to deny a leading insurance carrier the right to arbitrarily increase homeowners' insurance rates by as much as 39 percent along the coast in response to claims filed in the wake of hurricanes Rita and Katrina.
"This rate hike rejection will help families hold onto their homes," Vo said, adding that the denial is especially welcome news for homeowners in Fort Bend, Galveston, and Harris counties.
Vo wrote to Texas Department of Insurance officials last month to urge them to deny the request by State Farm, the state's leading insurance carrier, saying the rate increase was unjustified.
"Texas homeowners already pay twice the national average to protect their homes," Vo said.
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