Texas Auto Insurance Residual Plan Files Rate Increases

The auto insurer of last resort in Texas has filed rate increases for both private passenger and commercial auto coverage.

The Texas Department of Insurance reported that the Texas Automobile Insurance Plan Association has filed rate increases of 4.9 percent for private passenger auto insurance and 3.9 percent for commercial auto coverage. The proposed rate increases for new and renewal businesses is Feb. 1, 2019.

The filed rates are subject to review by TDI. The filing must be approved or disapproved by Oct.10, 2018, unless the renewal time period is extended by the insurance commissioner.

Source: TDI