Guest guest Posted May 14, 2006 Report Share Posted May 14, 2006 May 13, 2006, 8:03PM State Farm proposes higher rates in Florida Insurer says average increase for homeowners would be 70% Associated Press TALLAHASSEE, FLA. - State Farm Insurance Co., the largest home insurer in Florida, is seeking to boost premiums by an average of about 70 percent, the company said Friday. If approved by state regulators, the increase would be effective Aug. 15. The company, which covers about one in five Florida homeowners, said the premium increase is largely because of higher reinsurance costs. Reinsurance is coverage for insurance companies, bought to back up companies should they have massive claims. Source: http://www.chron.com/disp/story.mpl/business/3861014.html Quote Link to comment Share on other sites More sharing options...
Guest guest Posted May 16, 2006 Report Share Posted May 16, 2006 hi vj, thanks for this, i asked my husband and he says that hurricane insurance is included in his mortgage bill. we pay 1600 a month for the house. That is not including water, electricity, telephone, cable etc. we are struggling and we do not have flooding insurance, just hurricane insurance. we thought that florida would be cheaper to live in but it turns out not that much cheaper than when we lived in nyc. I cut out coupons and save as much as I can, and hope that planting vegetables would save a bit on our grocery bills. it is my goal anyways to live with less extraenous material items. regardless of my income. There are some people much worse off than me, the people whose houses were hit hard mostly those that live in Trailer parks. and I know some people who will leave florida and never come back because of their bad experience with the weather. , " rvijay " <rvijay07 wrote: > > May 13, 2006, 8:03PM > State Farm proposes higher rates in Florida > Insurer says average increase for homeowners would be 70% > > Associated Press > > TALLAHASSEE, FLA. - State Farm Insurance Co., the largest home insurer > in Florida, is seeking to boost premiums by an average of about 70 > percent, the company said Friday. > > If approved by state regulators, the increase would be effective Aug. 15. > > The company, which covers about one in five Florida homeowners, said > the premium increase is largely because of higher reinsurance costs. > > Reinsurance is coverage for insurance companies, bought to back up > companies should they have massive claims. > > Source: > http://www.chron.com/disp/story.mpl/business/3861014.html > Quote Link to comment Share on other sites More sharing options...
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