TALLAHASSEE, Fla. (AP) — Florida's largest property insurer plans to drop its rates next year.
The board for Citizens Property Insurance voted Wednesday to lower rates by an average of 3.2 percent for single family homeowners in 2015. The state-created insurer says that nearly 70 percent of those with homeowner policies should see some sort of decrease.
Citizens, which has more than 928,000 policyholders, has raised its rates for four straight years.
The decision to lower rates, which still must be approved by state regulators, is coming during an election year.
But company officials maintain several factors have diminished the need for rate hikes next year. 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.
Shoppers seeking early deals
Holiday shopping got off to an early start.
BrandsMart security changes after 2013 chaos
The holiday shopping season got off to a rough start at BrandsMart last Thanksgiving as crowds pushed their way into the store. The…
Rat shuts Boca restaurant for 2nd time
The restaurant's manager didn't want to comment, but the owner of Saquella Caffe did. He gave a surprisingly honest and candid…
Facebook privacy changes you need to look at
Have you noticed the changes on your Facebook page? The Consumer Watchdog is breaking down the changes and shows you what to look at to make…
Cruise refunds hard to get without insurance
The Consumer Watchdog shows you the steps you need to take to protect your next cruise.