#insurance-rates

#insurance-rates

The company is recommending an average 2.6% statewide rate decrease for personal lines accounts beginning on June 1. Personal lines accounts include multi-peril and dwelling/fire coverage of owner-occupied single-family homes, condo units, and mobile homes. It also includes wind-only hurricane coverage. Across the state, a projected 463,096 policyholders would save an average premium savings of $359 compared to 2025. The company projects that 228,961 personal lines policyholders in South Florida's tricounty region would see rates decreased by more than 11%.

State Farm can increase homeowner and renter insurance rates due to necessary fund stabilization as it faces over $7 billion in claims from fires.

The Redditor expresses shock at being quoted new insurance prices that are nearly double their current rate, questioning if this is the new norm.