Florida Homeowner Insurance Rates Going Down

Florida Insurance Commissioner Kevin McCarty says homeowner rates in the state are coming down.

McCarty on Wednesday gave a report to Chief Financial Officer Jeff Atwater that looked at annual rate filings made by 30 of the state’s insurance companies.

The report found several companies that represent 20 percent of the market have either decreased rates or asked regulators to allow them to be lowered.

McCarty’s report did not look at all insurers because some have not yet filed with the state. Citizens Property Insurance, the largest insurer in the state, was also not included.

A national report released last month found that Floridians are paying the highest homeowner insurance rates in the nation even though the state has not been hit by a hurricane in nearly a decade.