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>>

  • In Comey memos, Trump fixates on 'hookers,' frets over Flynn

    In Comey memos, Trump fixates on 'hookers,' frets over Flynn

    Thursday, April 19 2018 4:32 PM EDT2018-04-19 20:32:51 GMT
    Friday, April 20 2018 12:56 AM EDT2018-04-20 04:56:56 GMT
    (AP Photo/Frank Franklin II). Former FBI director James Comey poses for photographs at a Barnes & Noble book store before speaking Wednesday, April 18, 2018, in New York.(AP Photo/Frank Franklin II). Former FBI director James Comey poses for photographs at a Barnes & Noble book store before speaking Wednesday, April 18, 2018, in New York.

    The Justice Department has agreed to provide Congress with copies of several memos written by former FBI Director James Comey, relenting as House Republicans threatened to subpoena the documents and criticized...

    The Justice Department has agreed to provide Congress with copies of several memos written by former FBI Director James Comey, relenting as House Republicans threatened to subpoena the documents and criticized department officials.

  • Waffle House is now serving beer, sort of

    Waffle House is now serving beer, sort of

    Thursday, April 19 2018 4:57 PM EDT2018-04-19 20:57:53 GMT
    Friday, April 20 2018 12:39 AM EDT2018-04-20 04:39:56 GMT
    The participating Waffle House is the nation's first location to sell beer.(Source: AP Photo/Ric Feld)The participating Waffle House is the nation's first location to sell beer.(Source: AP Photo/Ric Feld)

    The participating Waffle House is the nation's first location to sell beer.(Source: AP Photo/Ric Feld)

    The participating Waffle House is the nation's first location to sell beer.(Source: AP Photo/Ric Feld)

  • WF Tea Party & Texans for Freedom discuss voting down bond propositions

    WF Tea Party & Texans for Freedom discuss voting down bond propositions

    Friday, April 20 2018 12:10 AM EDT2018-04-20 04:10:39 GMT
    (Source: KAUZ)(Source: KAUZ)

    Members of the Tea Party in Wichita Falls are working to persuade residents to vote “No.” in the upcoming bond election. As News Channel 6 has reported, they have partnered with the political action committee from Arlington, Texas called Texans for Freedom. 

    Members of the Tea Party in Wichita Falls are working to persuade residents to vote “No.” in the upcoming bond election. As News Channel 6 has reported, they have partnered with the political action committee from Arlington, Texas called Texans for Freedom. 

Powered by Frankly