A conversation recently took place amongst my neighbors who reside in Hillsborough County, Florida. One neighbor saw her auto insurance policy increase almost $500 annually. She was told by her Florida insurance company that they took a statewide increase due to rising costs and claims payouts. While this is true, to someone not employed in the Florida insurance industry, it does seem like a rather vague explanation.
If you visit our website for up to date news in the Florida insurance industry, you would see articles highlighting the arrest of many individuals involved in auto insurance fraud. As recently as this week, 92 people were arrested for filing $20 million in fraudulent claims. This is just the tip of the iceberg. Can you imagine how many others commit insurance fraud in the state of Florida as well? As the costs rise for any business, so do prices. Unfortunately, the insurance industry is not exempt.
Now, I’m not saying that paying more for your insurance is justified. I just want you all to be aware of some of the reasons why rates have risen recently. When your rates rise, you need to shop around to be aware of your choices. It pays to deal with an independent agency such as Focus Insurance Group, who has many insurance carriers to chose from when quoting your Florida Insurance Policy. Please give Focus Insurance Group a call at 813-712-4191 for a free quote today.