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Florida home insurance rates could rise 33 percent
March 26, 2010 11:00AM

Home insurance rates could rise up to 33 percent across Florida according to a new bill passed by the Florida Senate Wednesday, with premiums even higher. According to the terms of the bill, insurers could raise rates five percent the first year, 10 the next and 15 in the third year. The bill is said to have been passed as part of an effort to attract insurance companies to Florida and help them pay if a catastrophic hurricane occurs in the state. The Florida House passed a differently-worded bill on the same issue last week. [Sun Sentinel]