This was expected as the billed that passed had no teeth in it. It was great for the re-election effort but it did nothing to help the consumers of Florida. This news will be followed next year by record profits.
The rate changes filed by the companies are based on past experiences, not future unknowns. The people who signed the bill thinking this would have an immediate impact were nuts. Give the law 2-3 years and premiums will start to go down as insurer’s PIP results improve.
I just received an email notification from my insurance carrier that my PIP premium will go down at my next renewal in March 2013. It made mention that they are cautiously lowering the rates now while they wait to see if the law has long lasting affects. I’m pleased!
This was expected as the billed that passed had no teeth in it. It was great for the re-election effort but it did nothing to help the consumers of Florida. This news will be followed next year by record profits.
The rate changes filed by the companies are based on past experiences, not future unknowns. The people who signed the bill thinking this would have an immediate impact were nuts. Give the law 2-3 years and premiums will start to go down as insurer’s PIP results improve.
Next round of PIP filings are due January 1, 2014, NOT 1/1/2013.
I just checked my upcoming renewal effective 12/16. While my other coverage premiums went down, PIP went up significantly on both vehicles.
I just received an email notification from my insurance carrier that my PIP premium will go down at my next renewal in March 2013. It made mention that they are cautiously lowering the rates now while they wait to see if the law has long lasting affects. I’m pleased!