Florida homeowners will find relief with Security First Insurance. Their Signature HO3 policy holders will get an 8% rate reduction in the second year consecutively and is set take effect on December 18, 2025. Out of 140,000 policy holders, 50,000 will receive benefits.
Founded in 2005 and operating out of Ormond Beach, Florida, Security First is a pillar of the residential real estate sector. Run by Chairman and CEO, Locke Burt, the company has built familiarity among consumers by emphasizing their support for the Sunshine State’s residents.
Rate reduction
Signature HO3 provides comprehensive coverage of homes and property damage. The company reduced its 5.2% rate in 2024, meaning that in 2 years, the policy holders have seen around 13% savings.
There is also a 3% rate reduction seen in HO6 Condominium policy, with a significant 5% reduction HO4 renters policy holders.
“While many Floridians continue to face rising insurance costs, Security First is moving in the opposite direction,” Melissa Burt DeVriese, the President of Security Insurance said. “This 8% decrease on our most popular homeowner’s product reflects our ongoing commitment to making comprehensive coverage more affordable and accessible. For the second year in a row, we’re putting money back in the pockets of hardworking Florida families.”
Future of Florida insurance policies
According to The Zebra, Florida is experiencing a crisis in regard to its residential insurance policies.
Insurance premiums are high, coupled with low coverage. Due to the Atlantic hurricane season, particularly 2024’s Milton and Helene, a handful of companies like Farmers Insurance, Travelers Company, left Florida and some chose to only stay in low risk areas.
Other factors that are contributing to the “crisis” part of insurance policies in Florida include refusal to cover older roofs, fraudulent claims, and higher fees charged by the affiliated insurance companies.
Security First Insurance is providing an 8% reduction for the Signature HO3 Policy Holders.
