State-Backed Citizens Insurance Plans to Raise Rates Residents across Florida are bracing for another surge in property insurance costs as Citizens Property Insurance, the state’s insurer of last resort, inches closer to finalizing a 14% rate increase for 2025. This proposal, already approved by Citizens’ board, seeks to align rates with the private market while continuing efforts to reduce the insurer’s policyholder count. But as Floridians juggle rising premiums and limited options, the bigger question remains—what’s the way forward? Why Are Florida Insurance Rates Rising? Florida’s property insurance market faces…
Read MoreFlorida’s Property Insurance Shake-Up: What Homeowners Need to Know
