State Farm Rate Hike
Save Email Print
Updated: 9:03 PM Jul 16, 2008
State Farm Rate Hike
State Farm is seeking a 47.1 percent rate increase in homeowners' policies in Florida. The Illinois-based company is the largest private homeowners' insurer in Florida with roughly 1 million customers.
Posted: 3:28 PM Jul 16, 2008

State Farm Rate Hike
Font Size:

State Farm is seeking a 47.1 percent rate increase in homeowners' policies in Florida.

The Illinois-based company is the largest private homeowners' insurer in Florida with roughly 1 million customers.

State Farm spokesman Justin Glover says the company has spent roughly $1.20 for every dollar collected in premiums in Florida since 2000 and the big increase was necessary to stabilize its Florida operation.

A spokesman for the state Office of Insurance Regulation says the filing is being thoroughly reviewed and that a public hearing on the State Farm filing will be held next month.


Latest Comments

Posted by: Gramma Location: Springfield on Jul 16, 2008 at 06:20 PM

This is guaranteed to force more homeowners who aren't even behind in their mortgage payments into foreclosure. Can we all spell depression? And we thought it could never happen again. We were wrong. Time to create a florida insurance company all are required to buy from including people without a mortgage just like car insurance. Right now only those whose homes aren't paid for are buying insurance.
[ Report Abuse ]
WJHG.com Commenting Policy
Comments are posted from viewers like you and DO NOT reflect the opinions or views of this station as an entity. NewsChannel 7 invites you to share your opinions with others as an interactive, thought-provoking forum for respectful debate and communication.


For more on the WJHG.com Commenting Policy, click here.
WJHG.com Features
Find It!
Find Links and In-Studio Interviews from NewsChannel 7 NewsCasts.
Scam Alert!
Don't be scammed! Find the latest scam's right here, or report one!
Money
Top Money and Financial Headlines.
Health Watch
Watch videos and read the latest Health and Medical News.
Pet Pals
See what animals are up for adoption.
Restaurants
Dining in or Out? Find local restaurants here