Comment sparse on home insurance hike

By ASSOCIATED PRESS
Published June 6, 2006

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LAKE BUENA VISTA - Lynn Martin took a day off work and drove all the way from Punta Gorda on Monday to talk about homeowner's insurance.

In just under a decade, the 51-year-old has seen her State Farm premiums rise 300 percent to $1,600 this year, not even including the 80 percent average rate hikes the company just requested. Martin was one of just five people who spoke Monday at two hearings to give feedback on the request from Florida's largest home insurer. State Farm is also seeking an approximately 95 percent increase on mobile home policies, nearly doubling rates for about 30,000 owners.

The rate increase figures are averages, and will affect people in coastal areas more heavily. In landlocked Orange and Seminole counties, for example, it is closer to 13 percent, the company said.

If approved by state regulators, the State Farm increase would be effective Aug. 15.