State Farm Florida looks to raise rates on rental property policies

Florida homeowners insurance - homes in Florida on coastline

Insurer confronted with criticism concerning rate increase proposal State Farm Florida Insurance is looking to raise rates on rental property premiums throughout the state, a fact that has been criticized by some Florida officials and consumer advocates. The rate increase would affect approximately 33,000 policies throughout Florida, including apartment buildings and homes that are rented out by landlords. State officials and consumers advocates are questioning the rationale behind the proposed rate increase because State Farm no longer writes new business in the state and has not done so for some…

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