Miami Public Workshop Turns Into Tongue-Lashing for Citizens Property Insurance

by Isaac Benmergui, Esq on August 6, 2012

Miami residents at a recent public workshop rallied against a planned 7.5 percent rate increase by Citizens Property Insurance. South Florida residents and elected public officials gave the property insurer quite the tongue-lashing after the company revealed its plan to boost rates by an average 7.5 percent next year.

The statewide increase, which will be higher in the more affluent areas of the state, like South Florida, will cost Florida homeowners roughly $173 million more. Rep. Carolos Lopez-Cantera, R-Miami, slammed Citizens for its unthinking practices which force some people to choose between housing costs and food.

Citizens has yet to finalized its rate increases, but parts of South Florida may receive as much as an 11.4 percent increase. Florida legislatures have placed a cap on such increases at 10 percent with some allowances for surcharges.

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