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Four more insurers want homeowners to pay more

If regulators approve the increases, more than 30,000 policyholders in the Tampa Bay area would be affected.

By TOM ZUCCO
Published May 27, 2006

Four more property insurance companies in Florida have filed this week for significant rate increases, up to a triple-digit average jump in some parts of the Tampa Bay area.

Affected by the latest round of hikes are policyholders with First Floridian Auto and Home, Travelers Indemnity, Metropolitan Property and Casualty, and Phoenix Insurance.

Residents in Pasco County who have property insurance through Metropolitan could see their premiums jump 155 percent. Metropolitan, which insures about 7,000 homeowners in the Tampa Bay area, asked state regulators this week for an average statewide increase of 95.7 percent. Policyholders in Hillsborough County could see an increase of 98.5 percent.

First Floridian and affiliated Travelers Indemnity and Phoenix Insurance asked regulators for an average statewide increase of 24.2 percent. The three companies have nearly 25,000 policies in the Tampa Bay area. Hillsborough policyholders would see a 32 percent increase, Pasco would see a 47.9 percent increase, and Pinellas would see a 54.5 percent increase.

Public hearings, which are mandated for all rate increases above 15 percent, have yet to be scheduled.

[Last modified May 27, 2006, 06:47:13]