Tag: Florida auto insurance

AAA’s Decision to Drop Auto and Home Insurance Customers in Florida Spells Trouble for Policyholders

G. Turner
Home insurance - home and auto gone

Shortly after Farmers made a similar announcement, this insurer followed suit. AAA has announced that it will not be renewing auto and home insurance policies for some of its existing Florida customers, becoming the next in a growing list of insurers scaling back their business in the struggling state. Florida has been facing disasters in increasing frequency and severity, sending insurers fleeing. With the number of hurricanes and tropical storms leaving catastrophes behind in Florida, auto and home insurance companies in Florida are choosing not to renew policies for some…

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Farmers drops 100,000 auto and home insurance policies in Florida

H. Cutner
Home insurance and auto insurance - files

The insurer has announced that it will no longer write new policies or renew existing coverage in the state. Farmers Insurance Group has announced that it will no longer be writing or renewing existing auto, umbrella or home insurance policies. This decision will impact about 100,000 customers across the state that is already facing a coverage crisis. The auto and home insurance company made its decision only one day after Florida Chief Financial Officer Jimmy Patronis threatened to take action against the insurer if it proceeded with its plan. Hearing…

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GEICO publishes tips for driving in heavy rain for Florida auto insurance customers

Julie Campbell
Driving in heavy rain - car driving in rain

Hurricane Elsa mainly spared the state, but heavy rain and high water still make roads dangerous. GEICO has published a list of tips for drivers in Florida and other states affected by hurricanes, to help them with driving in heavy rain while remaining safe. High water and flash flooding can rapidly become a high risk for people even when in their vehicles. Driving in heavy rain can be a daunting experience. When done improperly, it can also be a dangerous one. Ready.gov points out that it takes as little as…

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Report suggests Florida no fault auto insurance repeal would spike premiums

Nordstrom
No fault auto - car accident - car damage

According to the Florida Office of Insurance Regulation, the average driver would have to pay over $200 more. A new analysis of the bill to repeal the Florida no fault auto insurance system has cautioned that drivers will have to pay considerably more money for coverage if it passes. If Governor DeSantis signs the bill, drivers will pay an average of $202 more, said the report. The report pointed to an analysis that showed that if the bill does pass, the no fault auto insurance repeal will cause the highest…

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No-fault auto insurance system debate returns to Florida House

G. Turner
No-fault auto insurance system - car crash

Replacement legislation would remove personal-injury protection in favor of bodily injury coverage. Once again, Florida’s no-fault auto insurance system has made its way back to the House and faces potential demise. This, despite concerns voiced by the industry suggesting that this move by the Legislature may not reduce premiums. Critics warn that removing the current system risks increasing health insurance rates and lawsuit numbers. Earlier this week, the House Insurance & Banking Subcommittee backed HB 771. That measure would replace the current mandatory components of the no-fault auto insurance system…

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Florida no fault auto insurance repeal effort launched once again

H. Cutner
florida no fault car insurance

A new proposal is headed to the state Legislature in 2018 after having undergone lengthy discussion. Senator Tom Lee (R-Thonotosassa) filed SB 150 in the hopes of repealing the no fault auto insurance system in Florida. The current law requires drivers in the state to carry $10,000 in personal injury protection (PIP) coverage. Senator Lee seeks to replace the PIP coverage with a requirement for bodily injury and medical payment coverages. Lawmakers have tried several times to repeal the no fault auto insurance system over the last few years. They…

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Florida auto insurance costs more than coverage in most other states

G. Turner
Florida Auto Insurance

Research has shown that car coverage in the state costs up to 25 percent more than the U.S. average. According to newly released data from Insure.com, drivers in Florida are still facing very expensive auto insurance, to the point that they are paying up to 25 percent more than the average across the rest of the country. The report on the data analysis determined that Florida is the eighth most expensive state in the U.S. The average amount paid for auto insurance premiums in Florida was $1,654. When compared to…

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