Property Insurance Rates to Decline in Hillsborough County
By Russ Perlowski, Tampa Real Estate
(People's Choice Realty Services LLC)
Hillsborough County single family homeowners can expect an average rate reduction of 18% on policies renewing after June 1, 2007. The rate roll backs apply only to private insurance policies and not Citizens Property Insurance. Homeowners insured with Citizens already saw an average reduction of 25% on January 1, 2007. Additional information can be found at www.floir.com/HotTopics.htm . Then click on Bill 1A Presumed Rating Factors Report --March 1, 2007*Subsequent to the blog post, the Tribune reported on March 16, 2007 that insurers cut rates, but "not as expected", reporting that statewide State Farm is proposing a 7% reduction, Nationwide a 4.5% reduction, Allstate Floridian a 14.2% reduction and Liberty Mutual a 8.7% reduction Source: Tampa Tribune
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