Florida Home Owners Insurance - Citizens

Out today more bad news… I expect this to help drive even more people from Florida.

Citizens insurance premiums could jump 20 percent
Times wires
In Print: Friday, January 23, 2009

Senate President Jeff Atwater, R-North Palm Beach, said Thursday that legislators will let a three-year rate freeze for homeowners with policies under state-run Citizens expire this year. That means homeowners will start seeing higher bills — perhaps up to 20 percent higher — starting in 2010.

“We will have to allow Citizens’ rates to begin to move closer to market-driven rates,” Atwater said. “I will do so carefully and thoughtfully so that there’s not an extraordinary knee-jerk that falls on the citizens of Florida that are so dependent on Citizens coverage.”

Exercpt: http://www.tampabay.com/news/business/banking/article969799.ece

This is long overdue IMHO. They have been given a free ride for too long. I don’t know about you but I don’t like paying any insurance bill when it includes a fee for Citizens. Why should the whole state subsidize those that live in high risk areas?