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Florida Regulators Grill State Farm Over Proposed 47% Rate Hike for Homeowners

The Florida Office of Insurance Regulation pressed State Farm officials at a hearing last week to justify a recent filing for a 47 percent homeowners insurance rate hike, in a move that would nearly

By Phil Gusman | Updated on August 17, 2008

The Florida Office of Insurance Regulation pressed State Farm officials at a hearing last week to justify a recent filing for a 47 percent homeowners insurance rate hike, in a move that would nearly double the premium for policyholders with the worst windstorm exposures.

The filing seeks increases that vary by county–as low as 19 percent for Pasco (by the Gulf of Mexico), to as high as 88 percent in Flagler (which is on the Atlantic, and encompasses Daytona Beach).

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