2 Florida home insurance companies aim to raise rates more than 50%

Home insurance - Rising insurance rates Florida

Amica Mutual Insurance and Castle Key Indemnity have requested the increases in the state Home insurance rate hikes are nothing new to Florida property owners, but a recent request made by two private insurers in the state aims to increase rates by over 50 percent. Increases at that level are high even for Florida Amica Mutual Insurance and Castle Key Indemnity have formally requested to raise their rates by more than 50 percent for policies covering condominiums and secondary residences. According to the companies, the increases are required to help…

Read More

Castle Key Insurance submits proposals to Florida regulators asking for a rate increase of 30%

Florida insurance regulators are facing down a new rate proposal from property insurers Castle Key Insurance Company and Castle Key Indemnity Company. Representatives of the companies appeared before regulators on Tuesday to testify on the necessity of their proposals. Florida has recently been inundated with proposals to increase insurance rates due to the fact that hurricane season is sending several tropical storms toward the state. Given toll that natural disasters have taken on the industry earlier in the year, insurers are keen to recover their losses by hiking up premiums.…

Read More