June 2020
- Two of the costliest hurricanes to hit the U.S. caused damage in Texas: Hurricane Harvey in 2017 and Ike in 2008. (See chart below.)
- There were 747,334 flood insurance policies covered under the NFIP in Texas in 2018.
- In Texas, about 563,000 single-family homes were at risk in 2020 for storm surge damage from hurricanes up to Category 5 strength, according to CoreLogic, Inc. These homes would cost $113.4 billion to completely rebuild, including labor and materials.
- The number of people living in coastal areas in Texas increased by 0.8 million, or 10 percent, from 8.3 million in 2000 to 9.1 million in 2015, according to the U.S. Census Bureau. About one third of the total population of Texas lived in coastal areas in 2015.
- The Texas Windstorm Insurance Association (TWIA), is the state’s insurer of last resort for wind and hail coverage for Texas Gulf Coast residential and commercial property owners in the event of catastrophic loss. TWIA covers wind and hail in 14 coastal counties and parts of Harris County.
- In fiscal year 2019 TWIA had 189,935 residential policies in force and 8,674 commercial policies, for a total of 198,609 policies, according to Property Insurance Plans Office (PIPSO). Its exposure to loss was $55.2 billion in 2019, according to PIPSO.
Additional resources
Texas Windstorm Insurance Association Website
