In a continuous development that has only begun in Florida, Homeowner's Insurance Companies have satisfied State Insurance Regulators of their need to charge higher Premiums. See Julie Patel, "Homeowner Rates: Regulators OK Insurance Increases" (South Florida Sun-Sentinel, Friday, October 23, 2009).
Florida Homeowner's Insurance Premiums are only the first to increase. Expect increases in Homeowner's Premiums everywhere in the United States where the risks are increasing for Property Insurance Coverage of all kinds -- which means virtually the entire nation.
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This is not a good sign at all. Increase in insurance premiums is going to have an adverse effect on the insurance industry. We really should be coming up with better plans and rates to help the consumers.
Posted by: Florida Insurance License | November 06, 2009 at 05:51 AM