Citizens Property Insurance Proposes 14% Rate Hike for 2025

Florida's insurer of last resort seeks approval for significant premium increases amid legislative reforms and rising costs.

The proposed rate increase would affect over 1.2 million policyholders statewide.
Homeowners, condominium owners, and renters would see average premium hikes of up to 14%.
Rate hikes are influenced by legislative changes, reinsurance costs, and the need for actuarially sound rates.
Citizens' rates remain below those of most private insurers in Florida.
The final decision on the rate increase awaits approval from Florida regulators.