South Florida’s commercial insurance rates have “dodged a bullet” after weathering a series of natural disasters. It was expected for rates to spike from 10% to 25% in 2018, but after the first quarter, the increases weren’t what was assumed during a busy storm season. Instead, Miami is seeing 5% to 10% increases.
Over the past five years there have been “bargain prices” where South Florida has seen reduction in rates. The rise in rates came at a time when three hurricanes hit the nation last year. But experts in the industry said it could have been a lot worse
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