The Texas FAIR Plan Association (TFPA) Governing Committee voted at its December 9, 2024 meeting to file for the full actuarial rate indications for all policy forms, limited to no more than a 25% change in any territory.
The proposed rate changes were approved by the Texas Department of Insurance (TDI). The rate changes will apply to new and renewal business beginning August 1, 2025.
| Product | Indicated | Filed |
|---|---|---|
| Homeowners | 9.3% | 9.3% |
| Tenants | -7.8% | -7.8% |
| Condo | 17.1% | 16.9% |
| Dwelling (Fire) | 26.5% | 25% |
| Dwelling (EC) | 37.8% | 24.8% |
NOTE: The new rates apply to all new and renewal policies issued with an effective date of 8/1/2025 and later, even if quoted and submitted prior to 8/1/2025.
Deductible Options
TFPA Governing Committee also instructed staff to file for updates to the available deductible options. Those new options would eliminate the 1% deductible option and add 3%, 4%, and 5% options for TFPA Homeowners and Dwelling policies. The proposed changes to the deductible options have been filed with TDI but not yet approved.
Contact us for any questions.