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.
State closes Blue Front a 2nd time for rodents
Roaches closed the doors of two restaurants, but when they reopened they didn't want to talk about the pest problem. Plus a rat problem…
Don't let tire trouble delay July Fourth travel
When was the last time you checked your tires? The Consumer Watchdog shows you why you may want to check your tires before you hit the road…
A/C company took $ but didn't do the work
An air conditioning company that took money for new systems, but never delivered them is under investigation tonight by the state and the…