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Certain customers of Florida’s largest property insurer will soon be paying a little less for their homeowners insurance but not all of them.
Citizens Property Insurance Corp. is starting to advise many homeowners with expiring policies that they have to go through an electronic clearinghouse intended to shift more policies into the private market.
Regulators have approved a plan by Southern Oak Insurance Co. to remove up to 10,000 residential policies from the state-backed Citizens Property Insurance Corp.
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 customers may soon get a break with their rates next year.
Homeowners in flood-prone neighborhoods across the country will see relief from big insurance increases when President Barack Obama signs a bipartisan bill Friday.
Congress passed a bill scaling back flood insurance premium increases, allowing below-market insurance rates to be passed on to people buying homes.
After more a decade of increases since Hurricane Wilma struck in 2005, homeowner’s insurance is finally coming down in Florida.
Florida hasn’t seen a hurricane since 2005, but that hasn’t stopped property insurance rates from going up. Hurricane Wilma was the last of eight hurricanes to hit the state from 2004 to 2005. It raked the southern end of Florida and caused billions in damages.