The Real Deal Miami

Home insurance rates could rise 33 percent

March 26, 2010 09:57AM

Home insurance rates could rise up to 33 percent across Florida
according to a new bill passed by the Florida Senate Wednesday, with
premiums even higher. According to the terms of the bill, insurers
could raise rates 5 percent the first year, 10 the next and 15 in
the third year. The bill is said to have been passed as part of an
effort to attract insurance companies to Florida and help them pay if a
catastrophic hurricane occurs in the state. The Florida House passed a
differently-worded bill on the same issue last week. [Sun Sentinel]