Olympus Insurance Now Offering Florida Home Insurance

August 11th, 2007 by Jeannine C

In a state most insurance companies avoid, Orlando-based Olympus Insurance has begun writing insurance for Florida homes.  They are the first of eight new property and casualty insurers approved by the Florida Office of Insurance Regulation to start offering homeowners, mobile home, commercial insurance and more to residents, bringing $1.2 billion in new capital investment to the state.

Many home insurance providers fled Florida after significant losses from hurricane damage.  The result was a limited number of carriers providing extremely expensive homeowners coverage; in fact it was not unusual for families to pay $5,000 or more annually and be grateful just to lock in a policy.

Olympus plans to write up to 100,000 policies throughout the state, in part due to a loan from the Insurance Capital Build-Up Incentive Program from the Florida State Board of Administration.  The result is more choice for consumers, with companies actually beginning to compete for home insurance business for the first time in years.

The other seven carriers should begin offering policies shortly.  Four of the carriers are actually based in Florida, including American Keystone Insurance, Homeowners Choice Property & Casualty Insurance, Modern USA Insurance, and Privilege Underwriters Reciprocal Exchange.

Florida residents can actually start getting other competitive home insurance quotes now, to have enough time to compare and choose the best deal before it is time to renew their current policy.

So, if you live in Florida, there is finally hope of relief for your high home insurance premiums!  Celebrate!

Listen to Olympus Insurance Now Offering Florida Home Insurance
Listen to Olympus Insurance Now Offering Florida Home Insurance

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