October 29, 2006
300 Percent And Still Rising!
I'm shocked someone out there hasn't died of shock yet. I nearly did. What am I talking about? Rising homeowners insurance rates of course. Yes, we've been talking about it for some time now, but that doesn't take away from the horror of seeing rates rise by almost 300 percent. Gulfbreezenews.com reports:
"Usually they have some sticker shock at first, but most understand that the recent storm activity is to blame and are open to looking for ways to lower the premium," said Robert Koonce of State Farm Insurance. Some homeowners received increases in the neighborhood of 300-400 percent, according to Koonce, and insurance companies are urging homeowners to make physical improvements to bring their property up to 2001 Florida Building Code minimum requirements to lower premiums.
Read more: Some homeowners' insurance up 300 percent
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