Make us your home page

Allstate units seek double-digit homeowners insurance rate increases at Tuesday hearing

Allstate will pitch double-digit rate increases for homeowners covered by its Florida-based Castle Key Group during a public hearing Tuesday in Tallahassee.

Allstate seeks an average 33 percent statewide rate increase for its Castle Key Insurance policyholders and an average 18 percent increase for Castle Key Indemnity policyholders.

Allstate Insurance spokeswoman Amy Moore said the property insurer hasn't had a significant rate increase in five years, and higher premiums are needed to keep pace with expenses. Moore said the average increase would be about $412, or $34 a month, for Castle Key Insurance policyholders and $243, or $20 a month, for Castle Key Indemnity policyholders.

Castle Key has about 250,000 policies statewide. Only Castle Key Indemnity, which accounts for about a fourth of the Florida unit, is writing new policies.

The hearing will be at 1 p.m. Tuesday in the Sen. Jim King Committee Room, 401 Senate Office Building, in Tallahassee.

Florida law mandates a public hearing for homeowners rate filings seeking an increase of 15 percent or more.

Allstate units seek double-digit homeowners insurance rate increases at Tuesday hearing 07/26/10 [Last modified: Monday, July 26, 2010 7:18pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Tampa is 15th-most popular city to move to with U-Haul


    TAMPA —Tampa is undoubtedly a destination point, at least according to U-Haul.

    Tampa is the No. 15 destination for people moving with U-Haul trucks. | Times file photo
  2. Florida's economy growing faster than other big states and far better than U.S. overall


    When it comes to economic growth, Florida's running alongside the leading states and well ahead of the United States as a whole.

  3. Westshore Marina District project takes shape with another acquisition

    Real Estate

    TAMPA — One of Tampa Bay's prime waterfront areas took another major step toward redevelopment Friday as WCI Communities bought 2.35 acres in Westshore Marina District.

    WCI Communities, Lennar's high-end subsidiary,has paid $2.5 million for 2.35 acres in the Westshore Marina District for 35 townhomes. WCI is under contract  to buy an additional 9.5 acres.
[BTI Partners]
  4. Posh Guy Harvey RV park to open in Tampa Bay with $250,000 cottages


    HOLIDAY — Love those Guy Harvey T-shirts with the soaring marlins? In the not too distant future, you might be able to kick back in your own Guy Harvey cottage in the first-ever Guy Harvey RV park.

    Renderings of the clubhouse and an RV cottage site of the planned Guy Harvey Outpost Club & Resort Tarpon Springs.
[Guy Harvey Outpost Collection]
  5. Port Tampa Bay secures $9 million grant to deepen Big Bend Channel


    Port Tampa Bay has secured a $9 million grant from the U.S. Army Corps of Engineers for the widening and deepening of the Big Bend Channel in southern Hillsborough County.