Friday, May 29, 2009

Some areas in Mobile, Baldwin counties to see Beach Pool insurance rate increases - al.com

Some areas in Mobile, Baldwin counties to see Beach Pool insurance rate increases - al.com: "Rates for policyholders of Alabama's insurer of last resort will go up 5.5 percent on average, beginning July 1, the Alabama Insurance Underwriting Association said in a letter dated Tuesday.

Rates are going up in Mobile, Gulf Shores, Orange Beach, Fort Morgan and Dauphin Island, while they will decline in south Mobile County, the Eastern Shore, and areas of south Baldwin County including Magnolia Springs, Perdido Beach, Josephine, Elberta and Lillian. They'll stay flat elsewhere in Mobile and Baldwin.

The group, commonly known as the Beach Pool, charged $2,173 on average for a residential policy at the end of April. A 5.5 percent increase would bump that by $120 to $2,293."