Experts are predicting a major storm in Florida this month, as key US home insurer Nationwide tries to increase its rates by as much as 99%. The Ohio-based company has applied to the State Office of Insurance Regulation for a range of premium increases in hurricane-prone areas. The average requested increase is 71.4%, with residents of Palm Beach County facing nearly doubled rates. The company last increased rates, by an average of 21%, 12 months ago.

Last year’s hurricane damage, and the prospect of worse storms this season, has forced the insurers’ hand, says Nationwide Regional Vice President Jeff Rommel. The insurers have paid out more than $US34 billion ($45.55 billion) in hurricane-related claims in the past two years.

Nationwide serves around 240,000 homeowners in Florida, including 43,000 in Palm Beach County.