The Real Deal Miami

Property compromise in legislature

May 01, 2009 10:26AM

A new version of a bill that will boost homeowner insurance premiums will likely be approved by the state House and Senate today and passed on to Gov. Charlie Crist for approval. Policy holder at Citizens Property Insurance Corp. can look forward to increases by up to 10 percent a year until its rates are considered financially sound. Private insurers would also be able to increase backup coverage costs by about 10 percent per year.