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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