Florida launches insurance cost comparison Web site

TALLAHASSEE, Fla. – June 27, 2007 – Homeowners and buyers can now find comparison info on a state-run Web site, which creates a fictional house and then shows how much it would cost to insure, by company and county, based on rate filings submitted to the Florida Office of Insurance Regulation. Gov. Charlie Crist announced the launch of the “Shop and Compare Rates” Web site – www.ShopAndCompareRates.com.

“Many Florida homeowners find it difficult and frustrating to compare the cost of homeowners insurance,” says Crist. “This site is a valuable tool and serves as starting point to help Floridians find the insurance policy best suited to their needs.”

The site lists standard yearly insurance premiums to cover a five-year-old, concrete block home, with a current replacement value of $150,000, a $500 non-hurricane ?deductible, a 2 percent hurricane deductible, no claims and no wind mitigation discounts. The value of the site comes from the ability to compare the rates offered by competing companies working in that county. The list of insurers is sorted from the lowest to highest cost and provides a link to the company’s contact information.

© 2007 FLORIDA ASSOCIATION OF REALTORS®