Reported late last week, State Farm Florida is looking to shore up its finances and reduce discounts for customers… at the expense of those very customers. The Daytona Beach News-Journal reports
Trying to shore up its finances, State Farm Florida will eliminate or reduce some insurance discounts it offers to homeowners — leading to an average premium increase of 28.4 percent.
The move, which comes as State Farm prepares to pull out of Florida’s property-insurance market, will have widely varying effects on policyholders because they qualify for different levels of discounts.