State Farm, the largest insurer of homes and cars in Texas has filed for a rate increase with The Texas Department of Insurance.  The story covered by KFDM News states that State Farm is seeking an increase of 11.9%-13.8% in Jefferson County.

The Dallas News also covered the story.  According to State Farm the increase request results from higher reinsurance costs that the company takes out to help cover claims from natural disasters.  Some homeowners in non-coastal areas and those who have multiple policies may see a rate decrease according to State Farm.   

Its all up to the Texas Department of Insurance.  They have 30 days to decide whether or not to allow the increase.  Recently, the Texas Department of insurance did approve a rate increase for the Texas Windstorm Insurance Association.  In the approval it was stated the rate increase was granted to help build up the reserves of the fund. 

If the Texas Department of Insurance approves the increase the new rates will go into effective March 1, 2008 for new business and May 1, 2008 for renewals.