Florida Peninsula Insurance Announces a Statewide 2% Average Reduction in Homeowner Premiums

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Apr 11, 2024, 10:00 ET

BOCA RATON, Fla., April 11, 2024 /PRNewswire/ -- Florida Peninsula Insurance Company announced today a 2% statewide rate reduction for homeowner and condo policies. The updated rates will be implemented for new customers effective on July 15^th and for renewals on August 1^st. This homeowner's insurance premium decrease is due in part to the recent legislation changes as well as Florida Peninsula Insurance's analyst team, which has identified opportunities where additional savings can be passed on to the insureds making this the right time for a rate reduction.

"This should come as great relief to many Florida homeowners who have been suffering through this insurance crisis. Florida Peninsula Insurance's dedicated analytics team did their advanced calculations and recommended a 2% decrease in premiums. We are happy to be able to offer this reduction to Florida residents. The industry is showing indications of stabilization thanks to the hard work of our state legislators," said Clint Strauch, President of Florida Peninsula Insurance.

Since 2005, Florida Peninsula Insurance Company has grown to be one of the largest homeowner carriers in Florida, focusing solely on home, condominium, and renter policies. Managed by Windward Risk Managers and headquartered in Boca Raton, Florida, FPI has maintained a Financial Stability Rating^® of A-Exceptional from Demotech and continues to be a leader in Florida's homeowner's insurance market by adhering to a strong conservative financial approach, while offering policyholders competitive rates and customizable policy options to fit their needs. https://www.floridapeninsula.com/

SOURCE Florida Peninsula Insurance Company