Florida Approves Rate Hikes for Citizens Property Insurance Co.
Save Email Print
Updated: 9:21 PM Nov 20, 2009
Florida Approves Rate Hikes for Citizens Property Insurance Co.
Mobile homeowners insured by state-backed Citizens Property Insurance Corp. will see an 11 percent increase on their insurance policies in 2010.
Posted: 9:21 PM Nov 20, 2009
Reporter: Associated Press
Font Size:

Mobile homeowners insured by state-backed Citizens Property Insurance Corp. will see an 11 percent increase on their insurance policies in 2010. Florida Insurance Commissioner Kevin McCarty signed an order Thursday establishing rates for the Citizens high-risk accounts. The approved rates are close to those requested by Citizens at a rate hearing earlier this month.

Condo associations will see their rates increased 9.4 percent, nonresidential commercial property rates go up 9.3 percent and homeowners will see a 5.4 percent increase.

McCarty said the intent of the new rates is to get Citizens' rates closer to an actuarially sound level sought by the Legislature, which capped Citizens' annual rate increases at 10 percent.

WJHG.com Commenting Policy
Comments are posted from viewers like you and DO NOT reflect the opinions or views of this station as an entity. NewsChannel 7 invites you to share your opinions with others as an interactive, thought-provoking forum for respectful debate and communication.


For more on the WJHG.com Commenting Policy, click here.
WJHG.com Features
WJHG Classifieds
Buy, Sell or Trade!
 Money Talks
CPA and Money Reporter, Stacey Johnson brings you helpful financial tips and consumer news you can use!
Investing 101
Financial Consultant, Steve Moss, offers retirement and estate planning advice just for you!
Pet Pals
See what animals are up for adoption.
Scam Alert!
Don't be scammed! Find the latest scam's right here, or report one!
Go Green!
Have a question about Energy Savings? Ask the Experts here!
Health Watch
Watch Videos and Read the latest Health news.