Insurance rates could be impacted by destructive hurricane seaso - Newschannel 6 Now | Wichita Falls, TX

Insurance rates could be impacted by destructive hurricane season

Insurance rates could be impacted by destructive hurricane season

WICHITA FALLS, TX -

Following the deadly and destructive hurricanes of Harvey Irma and Maria, several U.S. states and territories not directly hit could still suffer.

Some worry that insurance rates could rise substantially higher in wake of the devastation left by what's been a busy hurricane season.

While many Texomans may not have been part of those hit by any of the storms motorists and homeowners here and across the country could possibly see their premiums rise as insurers pay out billions of dollars to cover properties destroyed and damaged.

The National Flood Insurance Program estimates that the U.S. insurance losses from the three most recent hurricanes could be as high as $100 billion.

With less capital and increased demand, it's not out of the realm of possibilities that insurers could be forced to raise their prices to cover massive losses.

While a company can't just raise prices on unimpacted areas because of disasters in other regions those companies can choose to write out less coverage in those unaffected areas.

Copyright 2017 KAUZ All Rights Reserved

  • News HeadlinesNewsMore>>

  • Inspector warned duck boat company of design flaws last year

    Inspector warned duck boat company of design flaws last year

    Saturday, July 21 2018 6:13 PM EDT2018-07-21 22:13:06 GMT
    Monday, July 23 2018 9:30 AM EDT2018-07-23 13:30:05 GMT
    (AP Photo/Charlie Riedel). People view a row of idled duck boats in the parking lot of Ride the Ducks Saturday, July 21, 2018 in Branson, Mo. One of the company's duck boats capsized Thursday night resulting in several deaths on Table Rock Lake.(AP Photo/Charlie Riedel). People view a row of idled duck boats in the parking lot of Ride the Ducks Saturday, July 21, 2018 in Branson, Mo. One of the company's duck boats capsized Thursday night resulting in several deaths on Table Rock Lake.

    Since 1999, duck boats have been linked to the deaths of more than 40 people, with a troubled safety record on the road and water alike.

    Since 1999, duck boats have been linked to the deaths of more than 40 people, with a troubled safety record on the road and water alike.

  • Ritz Cracker products containing cheese recalled over Salmonella fears

    Ritz Cracker products containing cheese recalled over Salmonella fears

    Sunday, July 22 2018 6:55 AM EDT2018-07-22 10:55:09 GMT
    Monday, July 23 2018 9:23 AM EDT2018-07-23 13:23:50 GMT

    The recalled products include lunchbox favorites, such as cheese-flavored Ritz Cracker Sandwiches and Ritz Bits.

    The recalled products include lunchbox favorites, such as cheese-flavored Ritz Cracker Sandwiches and Ritz Bits.

  • Cubs fan takes ball thrown to kid, gets flak on social media

    Cubs fan takes ball thrown to kid, gets flak on social media

    Monday, July 23 2018 8:04 AM EDT2018-07-23 12:04:28 GMT
    Monday, July 23 2018 8:38 AM EDT2018-07-23 12:38:40 GMT
    A young Cubs came up short when a ball thrown to him fell under his seat. But the Cubs came to his rescue. (Source: Pixabay)A young Cubs came up short when a ball thrown to him fell under his seat. But the Cubs came to his rescue. (Source: Pixabay)

    In the clip posted on Twitter, during a game against the St. Louis Cardinals at Wrigley Field, first base coach Will Venable tossed a ball to a young boy, who failed to catch it. It slipped under the boy's seat.

    In the clip posted on Twitter, during a game against the St. Louis Cardinals at Wrigley Field, first base coach Will Venable tossed a ball to a young boy, who failed to catch it. It slipped under the boy's seat.

Powered by Frankly