The Real Deal Miami

Rate hikes approved for Citizens in 2010

January 07, 2009 10:28AM

Homeowners with policies from Citizens Property Insurance Corp. are in
line for premium hikes of up to 10 percent a year on average starting
in January 2010. A legislative task force approved the new rate plan on
Tuesday, though it still faces a vote in the legislature. Coastal
homeowners could face increases of more than 10 percent, but task force
members want a cap that would limit a specific homeowner’s rate hike to
20 percent in any given year.