State Farm Insurance, a Florida insurance company is canceling some insured’s homeowners policies due to an increased cost of weather related claims.
In fact, State Farm has not written any new homeowner’s policies in the state of Florida since 2005 also the Office of Insurance Regulation said these are the average increases for the following counties:
State Farm has issued 632,000 personal, commercial and residential insurance policies statewide.
According to a report in the Sun Sentinel, some South Florida residents saw their homeowners insurance premiums jump from $2,246 a year to $8,524.
Don Westerfeld 6/7/2011 9:04:00 PM
Don Westerfeld has been active in the field of Insurance and Financial Planning since 1997. Don grew up in Indiana later moving to Lakeland Florida where he continues to reside with his wife and children. When he’s not in the office you can find him enjoying the great outdoors. He has served on several charitable business and non-profit organizations and continues to provide guidance, advice and support to local charities.
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