Lawmakers Aim at Cutting Insurance Rates

With soaring premiums, property insurance in Florida has been a hot topic among area homeowners, and with lawmakers tackling the issue, they're speaking out.

Florida legislators begin that special session on Monday afternoon. It promises to gain a lot of attention from homeowners.

The problem has been growing since 2004, the first of two bad hurricane seasons that cost insurers more than $30 billion in Florida.

Frustrated homeowners want to make sure there is no mistake where they stand on the issue. Many say they've watched their premiums double, even triple with no relief.

Now they're hoping lawmakers can save them from the rising rates. Several big insurers have already dropped hundreds of thousands of policies, leaving many Floridians with only one option.

That option is the state's expensive last resort insurance company.

Citizens Property Insurance hasn't had enough money to pay its claims and has seen its own rates spiral beyond affordability for many customers.

Floor debate won't begin until at least Wednesday.


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