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Florida’s Citizens Insurance Seeks Rate Increase as Policy Count Skyrockets

July 15, 2021

The Citizens Property Insurance Corporation’s Board of Governors approved rate adjustments that will raise average premiums by an additional 2.3% in February 2022.

The board for the state-backed insurer unanimously voted in favor of the rate increases, which head to the Office of Insurance Regulation for final approval. If approved, renewing policies after Aug. 1 will increase by an average 5.2%, and policies renewed after February 1, 2022 will see average increases of 7.6%.

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