Texas Church Insurance Premiums and Deductibles

Host Ron Wadley of Insurance for Texans explains the tension Texas church finance committees face between rising premiums and deductible exposure. He uses the story of a church in Temple, TX to illustrate this issue. He clarifies that premiums represent what insurers charge to assume part of a church’s financial risk, and that skyrocketing Texas catastrophe and liability losses have driven prices up. Wadley warns that chasing low premiums often shifts risk back to churches through higher percentage wind/hail deductibles and reduced coverage, such as moving from replacement cost to actual cash value, which can severely reduce claim payouts. He urges churches to evaluate the total cost of risk against reserves and ministry budgets. Connect with our church insurance team at insurancefortexans.com Download your free copy of our book, The Promise of Certainty, at thepromiseofcertainty.com 00:00 Show Introduction 00:26 Premiums Versus Deductibles 00:42 Temple Committee Story 01:39 Premiums Are Risk Transfer 02:08 Deductible Shrinkflation 02:56 Percentage Deductible Math 03:27 Hidden Coverage Pitfalls 03:58 Total Cost Of Risk 04:44 Get Expert Help 05:24 Wrap Up And Reminder