The Nationwide Insurance Company is the latest in a long list of homeowner insurance companies to attempt a rip off of the Floridians they insure.
Insurance Companies Overreaching
Nationwide applied for a 71.4% rate increase that “didn’t provide documentation or evidence to support the rate increase it was seeking” according to spokesman Bob Lotane with the Office of Insurance Regulation.
Interestingly, State Farm Insurance applied for a 71.5% rate increase in August which was denied. Unfortunately, State Farm spun around and applied for and was granted a massive increase of 52.7%. It appears that Nationwide is using the same tactics.
Floridians should be aware of the predatory practices the insurance industry is using. The ploy of applying for outlandish rate increases without justification is dishonest. Sadly, it is business as usual for Big Insurance.
Marc Hardesty, Esq.
Hardesty, Tyde, Green & Ashton, P.A.