Rate ups and downs

 

Here is a sampling of the increases or decreases on multiperil policies being sought by insurers that bought cheaper back-up insurance from the state's hurricane catastrophe fund as part of the insurance reform law passed in January. Insurers were required to pass on savings to policyholders.

Company Rate change sought No. of policies statewide
USAA (3 companies) 50.80% 260,142
Allstate Floridian Insurance 27.70% 283,685
Hartford Ins. of Midwest 24.50% 67,417
Allstate Floridian Indemnity 15.10% 84,144
Hartford Cos. (5 companies) 11.80% 30,564
First Floridian 4.40% 86,892
Cypress P&C 2.10% 59,156
First Liberty/Liberty Mutual -2.40% 131,554
St. Johns -4.50% 110,493
United Property & Casualty -8.00% 52,480
State Farm Florida -9.00% 1,007,986
Citizens Property* -14.50% 1,320,000
American Strategic (2 companies) -20.90% 157,437
Nationwide -21.90% 209,469
Coral Insurance -43.10% 12,689


* Citizens' rate is for wind-only policies; multiperil policies will decrease 6.7% on average.

SOURCE: Florida Office of Insurance Regulation

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