Jacksonville, Florida -- We know that homeowners insurance carriers in Florida are having a tough time keeping rates in check. We all anticipate a New Year with new home insurance rates. Most likely this is due to the high amount of natural disasters that have occurred in Florida and around the country.
Many homeowners in Florida jumped on the band wagon moving to Citizens Property Insurance Company because they were the last carrier standing to offer coverage. The state of Florida recently approved a 10.8 percent increase in premiums for 2013. Florida’s Insurance Commissioner called the increases necessary, as we need to move over to “actuarially supported rates.”
State Farm Insurance Company is the third largest home insurance company doing business in Fl. They were just approved for a 6.9% increase for upcoming renewals. State Farm still has nearly 1.4 million policies on the books in Florida even though they stopped selling new policies many years ago.
It looks like you will be shopping for more than Christmas presents this Holiday Season. A review of your home insurance policy might be on Santa’s list as well.
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