Board to vote on rate hikes
WEST PALM BEACH, Fla. - Protecting your home during a storm could become more expensive. Citizens Property Insurance leaders will discuss raising rates during a board meeting Tuesday morning.
Statewide, policy-holders insuring a home will see an increase of about 6 percent. Condo owners will see rates rise an average of 7 percent.
A subcommittee recommended the new rates at a meeting Monday. If Citizens Board of Governors approves the proposal Tuesday, the state will review the rates before they take effect in February 2018.
Below is how the rate changes measure up in the five counties on the Treasure Coast and Palm Beaches.
Multi-peril home policies:
Multi-Peril condo policies:
Citizens Insurance is a government-run company meant to provide protection to property owners who can’t find insurance in the private market.
The board meets at 9 a.m. in Maitland to vote on this proposal.