Citizens Property Insurance
If you homeowner’s policy is with Citizens Property Insurance, you’re going to be paying a bit less next year. On Wednesday the board of the state’s largest property insurer voted to lower rates by an average of 3.2 percent for single family homeowners in 2015.
Citizens Property Insurance Corp., which moved forward Wednesday in reducing rates for most customers, has delayed putting existing policies into a clearinghouse designed to shift property owners into the hands of private companies.
Citizens Property Insurance enters the 2014 hurricane season believing its finances are on solid ground.
The Florida Office of Insurance Regulation approved another 10,000 residential policies to be shifted from Citizens Property Insurance Corp. to a private carrier.
Florida’s insurer of last resort, Citizens Property Insurance, will launch another new program seeking to shift policies onto the private market.
Florida hasn’t seen a hurricane since 2005, but that hasn’t stopped property insurance rates from going up.
Citizens Property Insurance Corporation, the state-backed insurer of last resort is predicting it will be down to only 750,000 policies by the end 2015.
Roughly 400,000 Citizens insurance policyholders may find themselves with a new property insurance company by the end of November.
The state’s Office of Insurance Regulation is considering a request by Citizens Property Insurance Corp. for another round of rate hikes in 2014.
Citizens, Florida’s largest property insurance provider, has approved yet another round of rate hikes that could affect over a million policy holders.