Florida’s largest property insurer may be dropping its rates next year.
Citizens Property 热点黑料 is considering rate proposals for 2015 that would lower rates by about 3.2 percent for most homeowners. The state-created insurer says the proposal would apply to nearly 70 percent of those with homeowner policies.
The Citizens board will vote Wednesday on the proposal. State regulators must approve the plan as well.
Citizens, which has more than 928,000 policyholders, has raised its rates for four straight years.
But company officials say several factors have diminished the need for rate hikes next year. Citizens has built up a surplus because the state has not been hit with a hurricane since 2005.
Some customers, including those who live near the coast, will still pay more in the coming year.
Related Articles:
Florida Benefits As Yield-Thirsty Investors Line Up for Hurricane Bonds
Florida’s Citizens to Shave Operating Costs by Consolidating Offices
Florida’s Citizens Reaches Sinkhole Settlement
Florida’s Citizens Touts Policy Count Drop Below 1 Million
Topics Florida
Was this article valuable?
Here are more articles you may enjoy.
Redfin Reports Home Sales Dropping Fast in Five Florida Metro Areas 
Federal Judge Strikes Down Biden Overtime Pay Rule 
Famous Gulf Coast Restaurant and Owner Fined $1.5M for Mislabeling Seafood 
Blacks and Hispanics Pay More for Auto 热点黑料. Study Tries to Answer Why. 
