Florida OKs Rate Increases for Citizens Property Insurance

By: Associated Press
By: Associated Press

Tallahassee, FL (AP) - Citizens Property Insurance Corp. has
received approval to raise rates an average of 10.3 percent for
homeowner policies in Florida.
State Insurance Commissioner Kevin McCarty also Thursday ordered
increases of 9.2 percent for comprehensive mobile home coverage and
9.1 percent for wind-only mobile home policies.
Rates in various territories will go up more or less than the
average figures, and in a few cases, they'll decline.
The state-created company is Florida's largest property insurer
with 1.1 million policies.
The new rates will go into effect for high risk accounts on Feb.
1 and for other policies on Jan. 1.
McCarty approved slightly more than Citizens sought in part due
to more sinkhole claims.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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  • by Ins Guy on Sep 24, 2010 at 04:44 AM
    Wait until we get our new Governor. One (Sink) wants to increase our rates 10% per year, and another (Scott) wants to have no limit to the amounts rates can be raised. Interesting that insurance companies are among the most profitable companies in existence. Are there any independent candidates?
  • by Surprise Location: leon county on Sep 24, 2010 at 04:07 AM
    Say what and in these hard times? Its been 4 or 5 years since we've had a bad one where's the money at that we've been paying em each year at? They socking it away waiting or? Something smells here because I send em a big, big chunk of my yearly income every year like paying rent on something I own out right just for protection like paying it out too some mob bummer it just ain't right and they won't more and gonna git it too.
  • by Anonymous on Sep 23, 2010 at 07:38 PM
    Well that's just great...we can barely pay our mortgage and now we get an increase. This has gotten out of hand.
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