Homeowner's Choice

Please call  Gateway/ Acentria Insurance at 1-888-244-7400 for free quotes on Home Insurance, Auto, Flood, Private Flood, Business & Commercial & Life, Group benefits and Heath Insurance products.

For South Florida homeowners, 2017 already figured to be a year of steep property insurance rate increases.

For customers of two insurance companies, state regulators have made those increases even steeper than the companies sought.

Why? State regulators say high costs stemming from excessive claims in the tricounty region requires the companies to charge customers more money than they would prefer.

The state “has an obligation to approve rates that are [financially] sound — which may be more or less than what a company requests,” said Sha’Ron James, the state’s Insurance Consumer Advocate, who did not participate in the rate decisions.

Two companies — Deerfield Beach-based People’s Trust Insurance and Tampa-based Homeowners Choice Property & Casualty — this week received approval for larger rate increases than they requested.

People’s Trust, with 54,267 home- and condo-owner policies in the tricounty region and 129,365 statewide as of Dec. 31, sought a 14.5-percent statewide average rate hike and instead got a 16-percent hike.

Homeowners Choice, with 53,040 home- and condo-owner policies in the tricounty area and 130,041 statewide at the end of the year, sought a 3.3-percent statewide average increase and instead got an 8-percent hike.

Please read & enjoy the full article below;


You can save so much money on Flood and the policy is written on company paper. This means it is covered by FIGA and the Florida Cat Fund . HCI also has this product  reinsured with Berkshire Hathaway so we know it is very secure and safe!! Please call L & S Insurance at 1-888-244-7400 for free quotes on Home, Flood, Private Flood, Auto, Business & Commercial & Life & Financial products as well.

Florida Insurer Launches Company Offering Admitted, Standalone Flood Coverage

Paresh Patel, HCI Group chairman and CEO, said the timing is right to start the company, which he says is the first licensed flood insurer in Florida.

“As we are getting more expansive in our offering of flood policies it made sense to put it in a separate vehicle,” Patel said. “Because of the technology and the way TypTap works, it’s a different way of doing things than in the past.”

Patel said the coverage is sold through agents on the TypTap website. The online purchase process has been simplified through TypTap’s backend technology and only requires potential customers to answer three questions, then pick an agent from a dropdown menu to finish the policy purchasing process.

Please enjoy the full article below!!


Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, Business & Commercial, & Life & Financial products as well. Please enjoy the full article below.


The latest approvals include:

  • American Colonial Insurance Co. – approved to remove up to 5,441 personal residential policies, all from the Personal Lines Account (PLA).
  • Anchor Property & Casualty Insurance Co. – approved to remove up to 30,000 personal residential policies (25,007 PLA and 4,993 from the Coastal Account (CA))
  • Heritage Property & Casualty Insurance Co. – approved to remove up to 20,000 personal residential policies (17,326 PLA/2,674 CA) and up to 500 commercial residential policies (472 Commercial Lines Account (CLA) and 28 CA)
  • Homeowners Choice Property & Casualty Insurance Co. – approved to remove up to 50,000 personal residential policies (17,500 PLA/32,500 CA)
  • Mount Beacon Insurance Co. – approved to remove up to 27,000 personal residential (11,000 PLA/16,000 CA)


The parent company of one of Florida’s largest home insurers has entered into a non-binding deal to purchase another state-based insurer in a move that could affect 21,500 state policyholders.

HCI Group Inc. announced it will acquire Prepared Holdings LLC  and its subsidiary Prepared Insurance Co.

HCI Group is the parent company of the Tampa, Florida-based Homeowners Choice Property & Casualty Insurance Co.

The Tampa, Florida-based Prepared Insurance provides coverage to 21,500 policyholders, representing $48 million in annual premiums. The letter of intent sets the purchase price at $27 million less any monies owe under certain notes and other expenses.

The letter of intent also spells out other provisions of the deal, which have yet to be negotiated. Additionally, the deal is contingent on approval by the state’s Office of Insurance Regulation.

Homeowners Choice had 163,000 policyholders as of January 1, making it the seventh largest homeowners’ insurer in Florida.

Please call L & S Insurance at 1-888-244-7400 for quotes on Home, Auto, Flood, BUsiness & Commercial, & Life & Financial products as well. Please enjoy the full article below.


The OIR in Tallahassee was trying to shut down Homewise Insurance company because of  the financial status of the company and thank god Homeowner’s Choice(HCI) came to save the day for the clients of Homewise and the agents that represent them like L & S.Our 250 clients with this carrier will now be relatively safe from the issues that come when a company normally shut down. Of course some people will still get non renewed and the rates will be adjusted at renewal time, but anything is better than searching for insurance in a rush and trying to get new inspections or whatever else is needed.Most would have ended up in Citizens which is not good for most and it is not what our governor wants either.  HCI is a fine company and this will double their size and financial stability without growing the expense side. This will be a win win scenario for Fort.  Lauderdale and all over S. Florida. Please read the full story below and remember to call L & S Insurance for all of your home, Auito, Flood, business & Commercial and even Life insurance quotes.


Are they loosing money or is this a play on the State of Florida to get the rate hikes they want. 2 carriers stated thy made money to share holders (32 million), but told the State of Florida they lost 16 million.This is a  pre tax profit and net after owner’s and investors are paid millions in salaries and perks which bring on losses and now require rate hikes.Universal P & C  asked for an 88 million dollar rate hike by charging a 14% state wide average rate hike that was approved.State farm increses even with the   125K clients they are dropping will amount to 73 million with a 29% rate hike. According to Insurance commissioner Kevin McCarty 58% of all Insurance carriers are stating they have large losses and need to raise rates  to cover losses and try to turn a profit. All Insurance companies are stating that after years of trying to surpress rate increases w/ regulation has caused this problem, but it seems like it will happen the same either way, so you decide. This will be a huge battle in the Spring in Tall. when all the legislators are  back in full session. Our new Governor Rick Scott  is in favor of deregulation so it will happen and then we will see if rates come down, but I do not think so. Please call L & S Insurance for all your insurance needs and have us quote your home to try and save you money if we can. Please enjoy the full article and decide for yourself.


This article about Home Insurance is a  very valid point for consumer’s. Cost of rebuilding is not the same as  resale or new construction prices, but sometimes coverage’s can be lowered. As an agency L & S Insurance has done this customer Service  for it’s clients upon reviewing their coverage’s for renewal or if they have been non renewed as well. Companies  like Home Wise, Olympus, Federated National, HCI, Southern Oak  and many other’s are non renewing policies and raising prices as well.Don’t forget StateFarm cancelling 125K  homes as well as all the other major carriers including Allstate. When we shop for our clients, we first shop for  apples to apples comparisson’s. Once we determine the best company  for a client by price and coverage’s we also do a RCE(Replacement Cost Estimator) to determine the correct amount of coverage. This is not an appraisal, but it is fairly accurate and can be used to determine the correct cost to rebuild. it does seem here in S. Florida that  using about $125/sq foot under air is a good approximate, but each home by age and location is very differant. If your agency is not doing this for you then give us a call to do a complete shop rate request for you. With our 15 carriers of which 9 are currently writing new business here in S. Florida, we have the ability to shop well for any client. Please read the full  article by Julie Patel and what does happen quite commonly;


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