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State Rejects Home Insurance Hike

This article is more than 11 years old.

The state has shot down a plan by the home insurer of last resort, the FAIR Plan, to hike insurance premiums for about 150,000 Massachusetts homeowners by an average of 13 percent.

The increases proposed by the FAIR Plan would have been 25 percent on Cape Cod.

The FAIR Plan insures homeowners who can not afford to buy coverage in the private market.

The state's insurance commissioner says FAIR Plan officials failed to prove the rates were warranted.

There has been no comment from the FAIR Plan, which can file another rate request.

This program aired on May 9, 2008. The audio for this program is not available.

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