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Property & Casualty Insurance/Homeowner's premium raised mid year


I have a Lloyd's of London policy through a Lakeland, FL agency that started July 2012.  The annual premium is approximately $830.00. (no windstorm policy included).  I just received a notice from them that I owe an additional premium of nearly $400.  They increased my dwelling coverage.  My home isn't even worth that much!  Can they do this mid year?  I've been given two weeks to pay up.

Hi Linda,

Apologies for the delay in answering your question. Apparently, it did not come through to me when you first sent it.  Anything your carrier can or can't do is within your insurance policy, as that is a binding contract.  If you send a complete copy of the policy to me along with the endorsement that increased the coverage, I'll be happy to let you know if this is legal.

You should know that many homeowner insurance companies require you to insure to 100% of the replacement cost of your home (not the market value)...I want to see if that provision is in your policy.

James Berliner

Property & Casualty Insurance

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James R. Berliner, CPCU


My specialty is personal and busines insurance, relating to the property and casualty field. Homeowners, Auto, Business Auto, Workers Compensation, Business Interruption, Crime, Directors & Officers Liability, Employment Practices Liability, Professional Liability, General Liability, Umbrella Liability, etc.


I am the owner of my own agency (established 1970), have obtained my CPCU designation, and am licensed in many states.

IIABA (Independent Insurance Agents and Brokers of America), CPCU Society, PIACT (Professional Insurance Agents of Connecticut - Board of Directors)

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