Quote:
Originally Posted by Gatorfan1
All rate increases have to be approved by the Department of Insurance in Tallahassee. Companies are filing rate decreases now. The numbers are based on what happened two years ago. Actually most have filed for rate decrease. The hurricane will not affect rates for at least 2 years.
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Florida home insurance rates begin to fall after years of dramatic increases | FOX 13 Tampa Bay
Correct.
The Florida Office of Insurance Regulation said that the following nine insurance companies have filed for rate reductions:
American Integrity Insurance Co. of Florida
American National Property & Casualty Co.
Florida Peninsula Insurance Co.
Heritage Property & Casualty Co.
Safe Harbor Insurance Co.
Southern Oak Insurance Co.
Spinnaker Insurance Co.
Stillwater Property & Casualty Co.
US Coastal Property & Casualty
Competition will eventually fix this. This is the second year in a row that Spinnaker (my homeowners insurance company) filed for a reduction.
If you offered the Florida Homeowner's Insurance industry one Helene per year (and no other hurricanes) they would jump at that.
Of course, every so often a Hurricane Ian comes around. The third costliest weather disaster on record worldwide.