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%.
