Edison Insurance Company Announces Significant Rate Relief for Customers

Business Wire

BOCA RATON, Fla.--(BUSINESS WIRE)--
Edison Insurance Company, one of the largest homeowner’s insurers in Florida, today announced they have filed for a statewide rate decrease, providing meaningful savings for the majority of their Florida home and condominium unit owners with a statewide average rate reduction of -9.8%. These decreases began impacting customers with policies renewing on July 15 and subsequent renewals.

“These rate decreases reflect positive changes in Florida’s insurance marketplace and the continued benefits of legislative reforms,” said Paul Adkins, CEO of Edison Insurance Company. “We are pleased to pass these savings along to our policyholders while continuing to deliver strong, dependable coverage they expect from Edison. Providing comprehensive protection at an affordable price benefits homeowners and ensures the long-term viability of Florida’s insurance marketplace. Individual premium impacts will vary based on each policy’s unique characteristics. Premiums vary based on factors such as property location, roof age, construction, wind mitigation features, claims history, replacement cost updates, coverage selections, deductibles, and applicable discounts.”

About Edison Insurance Company

Edison serves over 145,000 policyholders in the state of Florida and provides access to innovative property insurance solutions for both home and condominium unit owners through its network of more than 2,500 agency partners.