THAN IT WAS ABOUT HALF AN HOUR AGO. MORE BREAKING NEWS DESPITE AN ACTIVE HURRICANE SEASON PREDICTED THIS YEAR. THE STATE SAYS 8 INSURANCE COMPANIES HAVE ASKED TO DECREASE THEIR RATES THIS YEAR. THAT IS A MUCH WELCOME NEWS. ACCORDING TO THE OFFICE OF INSURANCE REGULATION, 10 COMPANIES >> HAVE SAID THEY DON’T PLAN TO RAISE RATES THIS YEAR. THE STATE SAYS THIS NEWS IS A SIGN THAT THE INSURANCE MARKET IS STRENGTHENING. THAT IS REALLY GOOD NEWS BECAUS
8 Florida homeowners insurance companies ask to lower rates
Updated: 11:40 AM EDT May 21, 2024
Despite predictions of an active hurricane season, eight insurance companies in Florida have asked to decrease their rates this year, according to the state’s Office of Insurance Regulation.Additionally, 10 companies have indicated they do not plan to raise rates in 2024. This development is seen as a positive sign by the state, suggesting that the insurance market is strengthening. The names of the companies have not yet been released. However, it’s important to note that Florida homeowners still face the highest property insurance rates in the nation. The average homeowner’s premium in Florida is approximately $3,600.Eight new companies have also been approved to write homeowners policies in Florida; Manatee, Mainsail, Orion 180, Orion 180 Select, Tailrow, Orange Insurance, CORE, and Ovation.
Despite predictions of an active hurricane season, eight insurance companies in Florida have asked to decrease their rates this year, according to the state’s Office of Insurance Regulation.
Additionally, 10 companies have indicated they do not plan to raise rates in 2024. This development is seen as a positive sign by the state, suggesting that the insurance market is strengthening. The names of the companies have not yet been released.
However, it’s important to note that Florida homeowners still face the highest property insurance rates in the nation.
The average homeowner’s premium in Florida is approximately $3,600.
Eight new companies have also been approved to write homeowners policies in Florida; Manatee, Mainsail, Orion 180, Orion 180 Select, Tailrow, Orange Insurance, CORE, and Ovation.
Alice J. Roden started working for Trending Insurance News at the end of 2021. Alice grew up in Salt Lake City, UT. A writer with a vast insurance industry background Alice has help with several of the biggest insurance companies. Before joining Trending Insurance News, Alice briefly worked as a freelance journalist for several radio stations. She covers home, renters and other property insurance stories.