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Idaho homeowners get broader insurance at lower premiums than people in most other states, according to a national survey.
Idaho is one of four states that earned an A rating for favorable insurance environments from the The Heartland Institute and the Competitive Enterprise Institute. The other states are Arizona, Utah and Vermont.
Florida, Hawaii, Louisiana, Maryland, Massachusetts, and New York earned F ratings because customers pay more and receive homeowners insurance that is inferior to that offered other states, the report said.
“States with less-regulated insurance markets provide more consumer choice, more predictable rates, and insurance premiums that better reflect actual risk than do states with heavily regulated markets," said Eli Lehrer, who wrote the report.
The report focused on two questions:
Æ How free are consumers to decide what insurance products will meet their needs?
Æ How free are insurers to provide products that meet consumers’ real or perceived needs?
The Heartland Institute promotes free enterprise solutions to public policy issues. The Competitive Enterprise Institute supports free enterprise and limited government.
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