Raising Insurance Prices in an Election Year

A quick post to link to an Central Florida Political Pulse post:

Floridians will pay an extra $1 on top of every $100 of insurance premium for an additional two years under a plan approved Tuesday by Gov. Charlie Crist and the Cabinet to pay off claims still lingering from the 2005 hurricane season.

Crist and the Cabinet agreed to authorize the sale of as much as $625 million in bonds this summer, mostly to cover costs stemming from Hurricane Wilma, which had been initially expected to do little damage to Florida but ultimately rang up $11 billion in rebuilding costs. Wilma has become one of the state’s costliest storms on record.

Sure, it’s just 1%, but every little bit adds up.

And hurricane season is only 10 days old….

About Jim Johnson

Editor and publisher of The State of Sunshine.
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