Warning: Constant ABSPATH already defined in /home/flanews/public_html/wp-config.php on line 34
Capitol News Service » Blog Archive » Citizens Property Insurance:

Welcome to

Capitol News Service

Florida's Best Political Coverage on Television

 


 


 


Recent Posts

RSS Quote of the Day

  • Charles Baudelaire
    "Everything that is beautiful and noble is the product of reason and calculation."
  • Wilson Mizner
    "The best way to keep your friends is not to give them away."
  • Benjamin Disraeli
    "Silence is the mother of truth."
  • H. Jackson Brown, Jr.
    "Never forget the three powerful resources you always have available to you: love, prayer, and forgiveness."

Citizens Property Insurance:

October 30th, 2009 by flanews

Citizens Property Insurance customers will soon be paying more.

The Office of Insurance Regulation has signed off on a 5.4 percent rate increase for homeowners policies. The increases fluctuate depending on the policy type. The increase could have been much higher. This spring the state legislature agreed to let a freeze on Citizen’s policies expire and voted to allow rates to increase up to 10 percent. OIR deputy commissioner Belinda Miller says Citizen’s customers can expect to see increases for at least the next three years.

“If we did it all at once, it would for example, for the H03 filing, the home owners product, it would result in the neighborhood of a 30-35 percent increase. So, what the legislature did is said “we’re going to do no more than a 10 percent for each policy holder per year until we get to that,” said Miller.

The rate increase will affect a million Citizen’s customers in Florida. The rate increase will go into effect January 1st 2010.

Rate Increases According to Policy Type:

Personal Lines Accounts (PLA):

Homeowners: 5.4 percent
Dwelling Fire: 8.8 percent
Mobile Homeowners: 1.7 percent

Mobile Homeowners Physical Damage Accounts and Commercial Lines Accounts (CLA):

Mobile Home Physical Damage: 2.1 percent
Commercial Property Residential-Condo Assoc: 10.2 percent
Commercial Property Residential-Ex-wind-Condo Assoc: 10.2 percent

Posted in Housing, Insurance, State News | 2 Comments »

Leave a Comment

Please note: Comment moderation is enabled and may delay your comment. There is no need to resubmit your comment.

copyright © 2016 by Capitol News Service | Powered by Wordpress | Hosted by LyonsHost.com