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Home insurance rates could go up

Home insurance rates could go up

Home insurance rates could go up
News from NBC2 News:


No one wants to be short at the end of the month and that includes insurance agencies. That’s why three of the state’s largest home insurer’s are looking to raise your rates.

Despite not being hit by a major hurricane in nearly seven years, Florida residents could soon be paying more for homeowners insurance.

“Insurance will never go down they haven’t gone down they keep going up,” said insurance agent Frank Bonsignore.

Allstate, the universal insurance company of North America, and State Farm Florida are all dialed in on raising your rates.

So why the bump if we’ve been staying out of harm’s way.

Bonsignore says other variables may be at play.

“The biggest thing right now is fraud there’s a lot of fraud happening in Florida,” he explained.

“What is coming in and then what do we expect to pay out and we have to ensure that we have enough money,” said Justin Tomczak, with State Farm.

Allstate is proposing average statewide increases of nearly 22 and 33-percent. Universal policy holders could be facing a 22-percent increase

While State Farm who insures more than 400,000 Floridians wants to raise premiums an average of ab…………… continues on NBC2 News

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