Car insurance increase 2022 texas

Texas auto insurers are planning big rate hikes in 2022 Some are raising rates by more than 20%. Traffic on I-35 in Dallas on Feb. 25. (Lola Gomez / Staff Photographer) By Dom DiFurio 1:39 PM on Mar 14, 2022 CDT If you’re a Texas driver who’s insured by one of the larger insurance providers, odds are your bills could be going up this year.

And Progressive will raise its rates 15% on average statewide in 2022 — the company’s largest single auto insurance rate hike in the state in the last decade. What’s driving increased premiums? The pandemic continues to have an impact on most aspects of our financial lives — and car insurance is no different.

It’s the company’s first rate increase in Texas since before the pandemic began in 2020. Insurers typically adjust rates slowly in response to market conditions, according to TDI. But other companies are planning larger increases or have already implemented them. Root Insurance and Redpoint Insurance both filed to increase rates 20% or more.