Home insurance hikes in Florida: Why you could be paying more for the same protection
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JACKSONVILLE, Fla. – Sticker shock is a mild description of what Florida homeowners may be experiencing after learning they may be required to pay to keep their homeowners insurance active next year.
The Office of Insurance Regulation reports it has approved insurance rate increases as high as 33%, and insurance experts say the industry as a whole is nearing a crisis.
Let’s say your homeowners insurance is $4,400 dollars a year. For no fault of your own, you could be forced to pay another $1,450 on top of that. According to Personal Insurance Federation of Florida CEO Michael Carlson, there are some major problems in the insurance industry right now that appear to be worsening.
To get low rates, switch to Citizens Insurance now
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To get low rates, switch to Citizens Insurance now - South Florida Sun-Sentinel
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