A new study from the National Association of Insurance Commissioners shows that Texas homeowners pay far more for insurance than those in any other state.

The average annual premium in Texas for the most common homeowner policy was $1,372, considerably more than the nationwide average of $764.

Louisiana ranked second at $1,144, while Florida was third at $1,083. The premiums in all other states were less than $1,000.

However, the study, which was based on 2005 premiums, also showed that other states are closing the gap. Many of their rates have seen double-digit increases in recent years, while Texas rates have stabilized.

Texas historically has been among the most expensive states for home insurance, in large part because of its pattern of severe weather conditions such as hurricanes, hailstorms and tornadoes. A rash of mold claims in the early part of the decade caused even higher rates.

Source: Dallas Morning News