Part 5/13:
Meanwhile, other states such as Texas have faced their own catastrophe-driven increases. During the July 4th weekend, catastrophic flooding in Hill Country resulted in at least 119 deaths. Insurance companies, inundated with claims, are raising premiums across the board—State Farm implemented a 12.3% increase, and Allstate raised rates by 14.3% earlier this year for Illinois customers. Over the past six years, homeowners insurance rates have climbed roughly 40%, indicating a persistent upward trend.