Website lets homeowners compare insurance rates – South Florida Business Journal

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Website lets homeowners compare insurance rates

South Florida Business Journal

Date: Tuesday, July 26, 2011, 2:43pm EDT

A predecessor to Florida’s new HomeOwners Insurance Comparison Electronic System (CHOICES) had nearly 10,000 hits a month.

The Florida Office of Insurance Regulation has relaunched an online system that allows consumers to compare pricing on homeowner insurance.

The new system, called the Consumer HomeOwners Insurance Comparison Electronic System (CHOICES), allows consumers to select between two standard risks, and pick any of Florida’s 67 counties. The system generates a window with rankings for the rates of the leading insurers in that county.

Florida Insurance Commissioner Kevin McCarty said the system is designed to encourage Floridians to shop for a better rate; the system also illustrates the competitiveness of the homeowners’ insurance market in Florida and the benefits of shopping for insurance.”

CHOICES was originally released in 2007 as shopandcomparerates.com. At its peak, the website received nearly 10,000 hits a month.

The rate quotes reflect the most recent rate filings OIR accepted. The rates do not reflect surcharges or discounts, and OIR encourages consumers to contact their insurance agent, or the company directly to obtain an official premium quote, according to OIR’s statement about the relaunch of the program.

via Website lets homeowners compare insurance rates – South Florida Business Journal.

About Stephen McGaughey
Economist and international consultant in economic development programs

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