A public rate hearing will be held to discuss State Farm Florida Insurance Company’s proposed rate increase for its rental dwelling line of business.
State Farm Florida proposed a statewide average rate level increase of 35.1%. The proposed change would result in an average premium effect of +25.6%. The reason for the difference between the rate change and premium effect is that the company has also requested to eliminate all flat deductibles and create minimum deductibles of 2% for hurricane and 1% for all other perils.
A copy of the agenda is available.
Interested parties may review the filing through the Office of Insurance Regulation’s (Office) I-File Forms & Rates Filing Search system through the “Quick Search” option by using either the company name or the file-log # 13-15214.
A video recording of the hearing can be found here.