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Florida Has Highest Homeowner Insurance Rates In US, Despite Lack Of …

Florida Has Highest Homeowner Insurance Rates In US, Despite Lack Of …

Florida Has Highest Homeowner Insurance Rates In US, Despite Lack Of …
News from Fox News Latino:

Nearly 20 percent of the nation’s Hispanic population lives in Florida and is paying the highest homeowner insurance rates in the nation even though the state has not been hit by a hurricane in nearly a decade.

A national report released this week shows the average premium for most Florida homeowners is $ 1,933 a year, or nearly twice the national average of $ 978. Five of the six states with the highest rates are along the Gulf of Mexico.

The report by The National Association of Insurance Commissioners is based on 2011 rates and includes for the first time premiums paid by customers of Citizens Property Insurance. The state-created Citizens is the largest insurer in the state with more than 1 million policyholders.

Florida’s insurance rates have been steadily going up for the last several years even though the state has not been hit by a hurricane since 2005. State regulators have continued to approve rate increases this year, although there are signs rates may finally be stabilizing.

Chief Financial Officer Jeff Atwater, who has complained that insurance rates in the state should be comin…………… continues on Fox News Latino

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