Florida home insurance: Still U.S. costliest despite decade storm lull

Hurricane_Wilma_2005Hurricanes may have swerved away since 2005, but Florida’s homeowners are still taking direct hits on the wallet.

Florida homeowners pay the nation’s most expensive insurance premiums,  $2,115, up from $2,084 a year earlier, statistics released Wednesday show.

“The annual premium increases are not justified,” said Nicole Vinson, a Tampa attorney who sues insurers and heads a group called Policyholders of Florida. “In addition to paying more, policyholders are receiving less coverage than our neighboring states even those on coastlines.”

Florida led Texas ($1,837) and Louisiana ($1,822) for the costliest average premium for HO3 homeowner policies, according to the National Association of Insurance Commissioners.

Florida’s bills run close to twice the national average of $1,096.

The data is the latest available from the regulatory group, based on 2013 premiums.

Average home insurance premiums
1. Florida $2,115
2. Texas $1,837
3. Louisiana $1,822
U.S.: $1,096

Source: National Association of Insurance Commissioners, released Wednesday, based on 2013 data, HO3 policies.

Update: see the Post’s expanded story here.

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