Experts Warn: Texas Wildfire Threat Called A Ticking Time Bomb For Property Owners

As cooler temperatures begin to fade and spring weather starts to move into Texas, the wildfire threat to Texans is getting bigger according to Newsweek.

Experts interviewed by Newsweek are warning that the threat of wildfires along with the growth of the population in some of the state's most at-risk areas could be a "ticking time bomb" for the Texas homeowners insurance market.

According to Newsweek, Texas could face a situation similar to California where for years major insurers have cut coverage in the most at-risk areas while also increasing premiums in California. That could happen in Texas, a state that experts say is less prepared for a disastrous wildfire to break out.

The Growing Wildfire Threat in Texas

The combination of warm temperatures and high winds during the winter-spring seasons, like we are in now, spread dangerous wildfires. The wildfires get fuel from the dormant grasses which can lead to a large fire.

According to Newsweek and a report by Redfin, thousands of people have moved into parts of Texas that are considered "high-risk" for wildfires. And that could drive up insurance costs.

The risk that wildfires in Texas could cause enormous damages is growing as more people move to fire-prone areas, according to recent data.

A 2024 report by Redfin found that a total of 97,535 people moved into high-fire-risk U.S. counties in 2023; 35,175 of these moved to Texas. All in all, high-fire-risk counties in the Lone Star State saw a net inflow of 30,156—which means that a majority of those who moved to Texas went to live in a vulnerable area.

 

Insurance Rates Rising In Texas

According to LendingTree, Homeowners insurance premiums in Texas have already increased by 54.5% between 2019 and 2024.

The increase in wildfires and threats of wildfires could drive up those costs or even cause some insurance companies to leave all together.