Unless you happen to have made the drive from Texarkana to El Paso lately you probably haven’t given too much thought to the incredible size of Texas. We have all carved out our own place here in San Angelo which makes it easy to lose scope of the state as a whole. Sure we all know things are bigger in Texas but it wasn’t until I recently read an article stacking up yearly global insurance expenditures that the idea of Texas being its own nation is not all that farfetched from an economic standpoint.
Below is a list of Countries and US States ranked by yearly insurance expenditures according to the National Association of Insurance Commissioners for 2011.
Insurance Premiums by Country/State (Billions US$)
1. Japan $ 655.4
2. United Kingdom $ 319.5
3. France $ 273.1
4. Germany $ 245.1
5. PR China $ 221.8
6. California $ 220.0
7. Italy $ 160.5
8. New York $ 133.8
9. South Korea $ 130.3
10. Canada $ 121.2
11. Netherlands $ 110.9
12. Florida $ 108.1
13. Texas $ 106.3
14. Pennsylvania $ 91.8
15. Australia $ 89.0
16. Spain $ 79.9
17. Taiwan $ 78.4
18. Brazil $ 78.2
19. India $ 72.6
20. Switzerland $ 63.5
28. Russia $43.3
On a global comparison Texas would come in at #10 compared to all nations outside the United States with $106.3 Billion in yearly insurance costs. A pretty remarkable stat if you ask me.
What might be even more remarkable is that when you add in all the other US States Texas is not even in the top 3 coming in behind New York, California and Florida. This is not all that shocking given the much higher cost of living in New York and California. Florida however is a different story. When you consider that Texas has around 26 million residents compared to 19 million in Florida you have to feel for the folks in the Sunshine State. All the sun, sand and endless beaches evidently comes with a pretty hefty price tag. So next time you have to renew your premium or are shopping for a new policy just be glad you don’t live in Florida. 
If you live in the San Angelo area and want to see what we can do for you please head over to our insurance quote page and we will get you taken care of.