Auto insurance rates in Texas are going through the roof and, while most are quick to blame "greedy insurance companies", that isn't exactly correct.

Between 2018 and 2023, Texas auto insurance rates have risen almost 50% ... 46.5% to be exact ... according to S & P Global Market Intelligence. That was the biggest jump in the entire United States of America.

American Family Insurance, (50.3% increase), and Farmers Insurance, (54.8% increase), rose the most according to SP Global.

Contrary to popular belief, it isn't just random greed on the part of insurance companies. They are out to make money but they've been spending most of what they bring in lately.

According to Texas Department of Insurance data, in 2020, auto insurers in Texas had combined auto policy profits of $2,894,463,942. But then they gave all that back and then some in 2021, 2022, and 2023, when they had huge losses year after year, totaling a combined - $3,753,242,443. - wfaa

Yep ... it seems a big part of this is how we Texans drive. As much as we like making fun of drivers from our neighboring states and/or countries, we are far from perfect ourselves. For example, according to WFAA, Texas has had:

  • 2,169 alcohol related crashes with a fatality. (NHTSA)
  • 1,172 died who were not wearing seatbelts. (NHTSA)
  • There were 162,414 speed-related accidents in 2022. (TXDOT)
  • 1,568 of those were killed. (NHTSA)

Price hikes are not coming to Texas, they're here folks ... and they're rising fast. Until we figure out a way to lower those accident stats, I don't see them coming down any time soon.

Here Are Six Things You Need To Do After A Car Accident In Texas

The many important things one has to do after a car accident in the Lone Star State. Here are top things you should do.

Gallery Credit: Tommy Paradise, Townsquare Media, Fort Worth Star-Telegram, Canva

11 Tickets That Will Raise Your Insurance Rates and by How Much

Gallery Credit: Bruce Mikells

More From 600 ESPN El Paso