September 14, 2006
Citizens Needs Bailing Out, Floridans Need Money
Officials with Citizens Property Insurance Corp recently decided that all Floridians who pay homeowner insurance premiums will have a one-time charge added to help cover the state-backed home insurer's $1.7 billion deficit in 2005. The extra cost will be $20.70 for every $1,000 of annual premium paid and will be in addition to the insurance price increases that consumers already are paying to insure their homes. Sun-sentinel.com reports:
The timing of theCitizens extra levy adds to the financial burden many Floridians already have because all of the state's major insurers have moved to raise premiums after the two recent storm seasons. Some State Farm Florida Insurance Co. customers are bracing for two double-digit rate hikes this year.
Read more: All Florida insured homeowners to help bail out Citizens with fee
--
Did you enjoy this post?
