Security First the Latest in Florida to Announce Home Insurance Rate Cut
Security First Insurance, ranked the 15th largest property insurer in Florida earlier this year, announced it has filed for an 8% average statewide rate decrease for thousands of homeowners policies, making it the latest carrier to follow through on expectations after landmark legislative changes were made in 2022.
The use-and-file rate cut has yet to be approved by the Florida Office of Insurance Regulation, but is set to take effect Dec. 18. It follows a 5.2% average rate decrease in its Signature HO3 polices last year. Together, the filings will mean significant savings on premiums for some 50,000 policyholders, the company said in news release Monday.