Security First Insurance lowering rates for the
first time in nearly a decade
Ormond-based insurance
company reducing rates by 5.9% |
|
Article Courtesy of ABC Action News
By Nadeen Yanes
Published May 23, 2024
|
WATCH VIDEO |
TAMPA — For the first time in nine
years, Security First insurance company is lowering its home insurance
rates.
|
According to data from the State Office
of Insurance Regulation, Security First had more than
136,000 policies in Florida and announced last week that it
will be reducing rates by an average of 5.9%.
"For the last nine years, we've been filing rate increases,"
said Melissa DeVriese, President of Security First. "Now,
for the first time we are seeing all the reforms coming in
place and improvements in the legal environment."
According to a press release, Security First will be
reducing their Signature Home Insurance (HO3) rates by 5.2%.
In addition, their Renters (HO4) rates are going down by
5.9%. Both rate reductions will be effective at the end of
August 2024.
DeVriese said most of their business is along the I-4
corridor across the state from the Tampa Bay area to Daytona
Beach and will impact about 80-90,000 policyholders.
|
|
|
"We feel very good about the future of Florida, we
feel very good about the legal environment. We feel very good about the
legislative changes that have occurred that have drastically improved
the homeowners insurance market in the State of Florida," Devriese
added. "We're looking to grow and we're looking to add policyholders and
we're very excited about all that means for the consumers."
|
