Insurance Rate | 28 Home Insurance Rate Hikes OKed This Summer
State insurance regulators granted more than two dozen home insurance rate hikes this summer trimming from 6 to 34 percent.
They systematic a rate lessen of 4 percent for Cotton States Mutual Insurance, that voiced it’s leaving Florida final year, and decreases of 6 percent for First Floridian Auto and Home Insurance, Phoenix Insurance, Travelers Indemnity and Travelers Indemnity Co. of America.
American Integrity Insurance Co. of Florida, that has 102,091 home insurance policies statewide and 13,575 in Broward, Palm Beach and Miami-Dade counties, received 14 percent increases for two variety of homeowner insurance policies it offers. Security First Insurance, with 119,205 policies statewide and 21,025 in South Florida, received a 9 percent enlarge for its homeowners multi-peril policies. And Universal Insurance Co. of North America, that has 81,834 policies statewide and 11,420 in South Florida, received a 12 percent enlarge for its homeowner skill insurance policies.
The Office of Insurance Regulation has received 19 rate travel requests that are tentative from Florida home insurers given June, when you final reported on insurers’ rate enlarge proposals . Only 3 companies draft using a ability from a unconditional skill insurance law transfered this year that speeds up the rate travel routine and the increases operation from 5 percent to 7 percent.
The office will grip rate hearings on 25 percent rate travel proposals from Fidelity Fire Casualty Company and First Protective Insurance Company next week.
The increases granted from June to Aug 11 are summarized below.
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