Citizens Property Insurance backs proposed 14% rate hike for 2025 (FL)

/ Owner - June 21, 2024

Citizens Property Insurance Corp’s board of governors unanimously backed a proposal during Wednesday’s meeting that could result in double-digit rate hikes for policyholders.  Many Florida Homeowners will see higher property insurance rates next year. The new rates would amount to an average 13.5% increase for homeowners covered by a “multi-peril” policy, which Citizens says is its most common.  Condominium owners would see an average 14.2% increase if the new rates are approved by the Florida Office of Insurance Regulation.    Read the article…………………………….

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