Rate Hearing this Week TAMPA (WUSF) - State Farm's 47 percent average rate hike request has received a lot of notice. But it's not the only company asking for permission to charge more money. The Florida Farm Bureau has a rate hearing before state regulators in Tallahassee this week.

The state offered cheaper reinsurance rates to insurance companies so they in turn would pass the savings on to homeowners. But at a rate hearing on Wednesday, the Florida Farm Bureau will argue it still needs to raise rates or risk not having enough money to pay claims.

The company has already been denied on rate increase according to Tom Zutell, spokesman with the Florida Office of Insurance Regulation.

State Farm has a rate hearing scheduled August 12.
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