Texas Insurance Topics to Consider in 2026 | SchellInsurance.com

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Texas insurance is changing dramatically in 2026, and this episode covers everything you need to know about health insurance premium spikes, auto insurance crossing the $3,000 threshold, homeowners market challenges, workers' compensation requirements, and new cyber insurance legislation. Whether you're a Texas consumer or business owner, these changes will impact your wallet.

Health Insurance - Major Premium Increases ACA marketplace premiums jumping 24-33% on average for 2026 due to enhanced federal tax credit expiration. Benchmark silver plans increased from $489 to $661 monthly for 40-year-olds. Texas has unique cost-sharing reduction loading provisions that may help temper increases compared to other states. Open enrollment deadline is January 15, 2026 - don't miss it! Experts estimate hundreds of thousands of Texans may drop coverage due to cost increases.

Auto Insurance - Breaking the $3,000 Barrier Texas auto insurance projected to hit $3,000 annually for the first time in 2026, with a 10% increase ($215 average) over 2025. Rates driven by increased crashes, expensive tech-heavy vehicle repairs, lawsuit trends, weather losses, and high uninsured motorist rates. Texas ranks 10th most expensive state nationwide. Smart strategies include shopping multiple carriers, increasing deductibles, bundling policies for 15-25% discounts, maintaining good credit (Texas allows credit-based scoring), and avoiding small claims.

Homeowners Insurance - Market Tightening Texas homeowners paying $2,258 annually on average for $300,000 dwelling coverage with premiums that jumped 21% between 2022-2023. Severe storms caused $42 billion in insured losses through September 2025. Major carriers pulling out of high-risk areas, pushing FAIR Plan enrollment to 135,000. Approximately 16% of Texas home policies now in Excess & Surplus market. Create detailed home inventory, consider higher deductibles, review policies annually, and compare multiple carriers.

Workers' Compensation - Texas's Optional System Texas is one of only two states where workers' comp is optional for private employers, but businesses without coverage lose legal protection against employee lawsuits. 87% of Texas employees covered despite optional nature. 2026 state average weekly wage set at $1,271.05. Medical inflation driving claim costs higher. Non-subscribers must file Form DWC-005 annually and post notices. Smart business owners understand massive liability exposure of going uninsured.

Cyber Insurance - New Safe Harbor Law Senate Bill 2610 signed June 2025 provides immunity from punitive damages in breach lawsuits for compliant Texas businesses with fewer than 250 employees. Requires documented cybersecurity framework (NIST recommended) implemented 6-12+ months before any breach. Texas breach notification law requires notification within 60 days with penalties of $2,000-$50,000 per violation. Average Texas breach costs $7.91 million, ransomware averages $1.1 million per event. Not state-mandated but increasingly required by contracts.

Why These Changes Matter for 2026 Premium increases across all insurance lines will impact household budgets and business bottom lines. Federal policy changes (health subsidy expiration) creating market instability. Climate risk reshaping homeowners market with $42 billion in storm losses. New cybersecurity legislation creating compliance requirements. Market capacity tightening as carriers exit high-risk areas. Independent agents more valuable than ever for comparing multiple carriers.

Schell Insurance - Your Texas Insurance Partner Schell Insurance understands Texas-specific regulations including optional workers' comp system, cost-sharing reduction loading for health insurance, data privacy laws, and Safe Harbor cybersecurity requirements. They compare multiple carriers to find best rates instead of limiting you to one company. Expert guidance on coverage gaps, new requirements, and policy reviews as market conditions change. Serving Texas consumers and businesses with health, auto, home, business, workers' comp, cyber, and life insurance.

Proactive Steps for 2026 Review all insurance policies now, not at renewal. Get quotes from multiple carriers for auto and home insurance. ACA marketplace enrollees must enroll by January 15, 2026. Business owners should assess workers' comp needs and cyber insurance compliance. Create or update home inventory documentation. Work with independent agent who provides objective advice and access to multiple insurance companies.

Texas Insurance Market Overview $83.1 billion in direct written premiums (2024) with personal auto leading at $35.2 billion. Over 1,167 insurance groups and 3,107 companies writing in Texas. $4+ billion in insurance tax revenue (5th largest tax source). Texas has highest uninsured rate in nation. Home to 2.9 million businesses employing 15.5+ million people. Nearly 4 million Texans bought ACA coverage for 2025.

Contact Schell Insurance Today Don't wait for renewal notices with massive increases. Take action now to review coverage, compare rates, and understand your options for 2026. Schell Insurance provides the expertise and carrier access you need to navigate this changing market.

Phone: (972) 423-4546 Website: https://schellinsurance.com Email: Contact through website

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