September 19, 2006
Insurance Hikes, Not Storms, Submerge Florida
Some more good news... for insurers that is -- four more companies have joined the list of insurance sellers that want Florida homeowners to pay more. Federated National Insurance Co., Homewise Insurance Co., Liberty American Insurance and Florida Family Insurance Co. are seeking double-digit rate increases. These hikes are expected to affect more than 180,000 Florida customers. Heraldtribune.com reports:
Federated National wants to boost its homeowners insurance rates an average 49.5 percent in Florida. The company has 42,578 homeowners policies, including 1,790 in Sarasota, Manatee and Charlotte counties. Homewise has filed for a 75.8 percent increase for its 17,404 policyholders, including 1,197 in this area. Liberty has two companies seeking higher rates. Liberty American Select Insurance Co. wants an increase of 44.8 percent on homeowners and 96.2 percent on dwelling fire coverage.
Read more: Insurers ask for rate hikes
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