Florida’s insurer of last resort received the approval for the increase after requesting 10.7 percent. Citizens customers are bracing for a homeowner insurance rates increase as high as almost 11 percent, which will become effective as of September 1, 2022. This, according to the Florida Office of Insurance Regulation (OIR) after the insurer received approval to increase premiums by an average of 6.4 percent across the state. The state-run corporation currently provides coverage for over 800,000 homes throughout Florida. As private insurers flee from the state’s marketplace, which is frequently…
Read MoreCitizens greenlit for hiking homeowner insurance rates 6.4 precent
