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Research Proposal In 2002, Texas homeowner rates have increased more than one hundred percent due to an increase in the number of mold and water claims. In addition, local government regulators have set a benchmark rate which allows insurance companies to charge rates thirty percent higher or lower than the benchmark. This system allows insurance companies to compete for customers. Due to the substantial increase in insurance premiums, law suits against insurance companies have increased. This …

…this year’s rate which will show a substantial increase. The benchmark rates, designed to allow companies to earn a reasonable profit, has resulted in unexpected premium increases. Also, the majority of homeowners receive the same rates as the high risk policy holders. In addition, insurance companies require background checks on new customers, which make it harder for customers to obtain insurance. Enclosing, I will provide solutions on how to find the best rate available.