TAMPA, Fla. — This week, Florida's largest insurer backed a proposal to raise the company's rates by double digits next year. Citizens Property Insurance Corp. insures about 1.2 million Floridians across the Sunshine State.
Citizens' Board of Governors gave its approval on Wednesday for the company to propose the rate hike to the Florida Office of Insurance Regulation for review and potential approval.
The proposal, in part, would lead to an average 13.5 percent rate increase for the most common type of Citizens policy, known as homeowners’ “multi-peril” coverage, according to reporting from the News Service of Florida. Condominium unit owners would see an average 14.2 percent increase.
Across all personal lines of insurance — a category that includes policies for homeowners, condominium-unit owners, renters and mobile homes — the average increase would be 14 percent.
With the possibility of a rate hike, see where Citizens insures the most homeowners in Florida:
The above map illustrates where most Citizens' insurance policies are located in the state. The counties listed under 11,000 don't have exact numbers. For an interactive version of the map, click or tap here.
Here are counties with the most Citizens “personal lines” policies, which include policies for homeowners, condominium-unit owners, renters and mobile homes:
- Miami-Dade County: 200,145
- Broward County: 149,337
- Pinellas County: 116,920
- Palm Beach County: 114,224
- Hillsborough County: 68,428
- Brevard County: 49,916
- Orange County: 44,610
- Pasco County: 36,194
- Lee County: 34,269
- Sarasota County: 32,367
- Volusia County: 29,733
- Hernando County: 25,053
- Duval County: 23,370
- St. Lucie County: 22,179
- Manatee County: 19,388
- Seminole County: 19,097
- Osceola County:18,518
- Monroe County: 18,042
- Polk County: 15,719
- Charlotte County: 14,650
- Lake County: 13,877
- Escambia County: 11,852
- Collier County: 10,686
- Indian River County: 10,074
- Okaloosa County: 10,055
The News Service of Florida contributed to this report.