Hurricane Insurance Hikes August 14, 2006 at 5:32 PM EST - Updated July 26 at 4:56 PM Troubling news for homeowners. Another company has asked the state to increase its homeowner and condominium premiums. USAA Casualty wants to raise the rates by an average of 40%. The company insures more than 280,000 people in Florida, mostly military personnel and their families. USAA, State Farm and Nationwide Insurance have asked to raise premiums because of reinsurance, or coverage for insurance companies to help pay claims after a catastrophe like a hurricane. State regulators approved State Farm's rate hike last month.