Legislators Polish Final Insurance Plan

Texans may get the reduction in homeowners insurance they've been waiting for. A senate and house committee approved a final plan that could mean a 12 to 18 percent rate reduction for homeowners. The legislation also leaves room for future cuts.

Tyler Pillsbury GMAC-broker and homeowner, Claudia Carroll, says the plan could be a professional and personal boon if it passes. Carrol noticed her own insurance premiums jump 22 percent over last year. She says credit scoring, increased rates and the stigmatizing of homeowners with prior damages is hurting home buyers. While Carroll calls reductions a step in the right direction, she says more could be done to protect individual consumers.

"If a consumer has a pattern of making claims, then perhaps you can look at them individually," says Carroll. "But across the board, rate increases based on credit scores are completely unfair."

The bill, heading for final house approval, does not prohibit insurers from considering a person's credit history when setting rates.

The new plan will have to pass both the house and senate before making its way to Governor Rick Perry.

Kerri Panchuk reporting.