The Real Deal Miami

Windstorm rate hike breezing into law

May 08, 2009 10:46AM

Waterfront home owners in Palm Beach County will see an average $190 increase in the cost of their windstorm coverage after rates rise at the state-run Citizens Property Insurance Corp. Governor Charlie Crist said he will sign a bill that will boost premiums so that the insurer of last resort is in a better financial position in the event of a major hurricane. Rates will rise around 10 percent annually.