2020 Insurance Rates
Question: Why are my insurance rates going up even though I didn’t have a claim?
Answer: A few main reasons we are seeing rates go up in Florida are due to the multiple hurricanes & disasters throughout the USA over the last several years. In fact, in 2017, the US faced OVER 306 BILLION dollars’ worth of destruction. That’s $306,000,000,000. That’s a lot of zeros.
In Florida, things more complicated even more by regulatory issues with regard to water damage & assignment 0of benefit fraud.
All of these factors are contributing to rising insurance rates, in several states & industries.