The cut starts with new policies and renewals
Florida regulators approved an average 12.8 percent rate decrease for American Modern Home Insurance Company renters coverage, according to an October 2 Office of Insurance Regulation release distributed through EIN Presswire. The new rates apply from October 11 to new policies and renewals.
The release identifies HO-4 coverage and approximately 121,898 exposures. This is a carrier-specific filing, not a statewide order reducing every renter's premium. It also does not describe a cash refund for all existing customers on October 11.
An average is not your quote
County averages vary. The release lists average changes of 13.4 percent lower in Orange County and 13.8 percent lower in Broward, and says over thirty counties have decreases between 13.1 and 13.9 percent. Those are averages within the filing, not a guaranteed discount on a particular household's bill.
Compare the renewal price, deductibles, liability limits and personal-property coverage before treating the headline as your savings. HO-4 protects tenants' belongings and provides specified liability coverage; it does not insure the building structure itself. The fresh filing offers a concrete reason for American Modern customers to inspect their renewal, while renters elsewhere still need an actual quote.