Home insurance rate increases based on region

Though the location always affects the price of Houston properties, it also has an impact on the price of a property's insurance. Robert Hartwig, president of the Insurance Information Institute, told MSNBC reporters that the price of homeowners insurance is becoming increasingly dependent on the geological hazards that a particular community may face.

According to the report, data from the Insurance Information Institute shows premiums have increased 76 percent between 2000 and 2009, and much of this increase may have been caused by rates increasing in areas prone to hurricanes.

States that have recently endured major geological disasters frequently face high insurance rates. These states include Florida, Texas and Louisiana, which already ranked amongst the top three insurance premium rates in the country, according to MSNBC.

Many Texas homeowners will see larger bills this year. In December, Allstate announced it would raise insurance rates statewide by 5.4 to 9.7 percent starting this month, due to higher frequency of destructive weather, such as hail storms. The average increase will be just over $60 per year.