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Originally Posted by jkpender
I recently read that insurance companies in Florida are going to readjust rates on homes inland to be comparable to the rates that they charge to coastal properties. It's based on the assumption that the risk from hurricane damage is higher inland than they previously thought. As someone who is considering moving to central Florida (The Villages) in the future I was wondering what the approximate yearly rate for homeowners insurance is for a $200,000 home in TV.
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I read the article and this isn't a proposal to raise rates. It's a study and it's data will be used to calculate rates. The new rates would still need to be established and then pass muster with the state insurance commission. My take on it is that, yes, rates will rise for inland locations but will still not be near coastal rates. They just said that the risk is underestimated inland. It was the writer of the article who used the phrase "same premium pain". And remember this was a commentary piece in the Orlando paper.
http://www.orlandosentinel.com/news/...6936289.column