Florida Office of Insurance Regulation Expands CHOICES Online Consumer Rate Comparison System to Include Auto Insurance
Aug 16, 2012
The Florida Office of Insurance Regulation (“OIR”) announced today, August 16, 2012, that CHOICES, its online rate comparison system for consumers, now includes auto insurance. It previously only included information on the homeowners’ insurance market.
The OIR announcement is reprinted below.
TALLAHASSEE, Fla. -The Florida Office of Insurance Regulation (Office) today announced the expansion of its interactive program designed to encourage Florida residents to shop for the best insurance rates in the State of Florida. CHOICES, a program that previously only served the homeowners’ insurance market, has now been expanded to include the auto insurance market.
“I am very pleased to announce the expansion of our popular rate comparison system to include auto insurance rates,” stated Florida Insurance Commissioner Kevin McCarty. “We have leveraged the Office’s resources to give consumers even more information, and to make the rates even more transparent. The foundation of a competitive marketplace is that consumers are educated about insurance products and prices for their particular circumstances. The purpose of this shopping comparison tool is to assist consumers in this regard.”
Consumers can access the interactive tool, “CHOICES”, through the Office of Insurance Regulation’s website. The program allows consumers to select among three standard risks for statutorily required coverages, or for more comprehensive coverages. After selecting the standard risk that best match their circumstances, the consumer may select one of the 67 counties in the State of Florida. Consumers will then see a pop-up window ranking the rates of leading automobile insurers in the selected county.
“CHOICES” was originally released in 2007 as “shopandcomparerates.com” for homeowners’ rate comparison. The program was revamped and re-launched in 2008 with the “CHOICES” name. The current expansion includes a separate option for auto insurance coverage, while retaining the homeowner’s rate comparison option.
The rate quotes are for illustrative purposes only, and reflect the most recent rate filings accepted by the Office. The listing of an insurance company in the “CHOICES” program does not constitute an endorsement by the Office. The rates do not reflect all possible surcharges or discounts, and the Office encourages consumers to contact their insurance agent, or the company directly to obtain an official premium quote.