The Real Deal Miami

Citizens raising some condo rates

February 14, 2012 09:45AM

Some Citizens Property Insurance premiums could jumpy as much as 21 percent, the Sun Sentinel reported. Policies affected include those for condominium buildings with a replacement cost of $10 million or more and those that have coverage for fire, theft and hurricanes, among others. The move follows a price increase in 2009 and 2010 for some condo buildings. The premium raise, which will go into effect in March, could prove problematic for some homeowners. “A lot of those condo buildings are full of elderly people and others on a fixed income,” said Sean Shaw, founder of Policyholders of Florida, a pro-consumer group. [Sun Sentinel]