A Game of Risk for Small Insurers

Small, Florida-based insurers are snagging market share -- but are they the solution to reinvigorating the state's home insurance market?

Mike Vogel | 6/1/2008

Homeowners Insurance Premiums

The state website, shopandcomparerates.com, lists insurers writing policies Florida, along with premiums. A sample of rates in various counties was compiled in May. Some insurers may have stopped offering coverage in some counties. Average approved rates are based on a 5-year-old, concrete block home, with a current replacement value of $150,000, a $500 non-hurricane deductible, a 2% hurricane deductible, no claims and no wind mitigation discounts.

Sample Homeowners Insurance Premiums
Insurer	Cost / County	Cost / County
American Strategic	$4,081 / Monroe	$675 / Alachua
Edison Insurance	$2,736 / Miami-Dade	$930 / Marion
Florida Peninsula	$3,807 / Miami-Dade	$1,094 / Marion
Homewise Preferred	$3,621 / Broward	$2,780 / Collier
Olympus	$3,132 / Monroe	$2,717 / Miami-Dade
Royal Palm	$1,878 / Pinellas	$717 / Orange
Security First	$1,562 / Palm Beach	$1,144 / Escambia
Universal Property& Casualty	$1,429 / St. Johns	$1,188 / Duval
Source: shopandcomparerates.com

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