{"id":24717,"date":"2022-09-02T17:57:03","date_gmt":"2022-09-02T21:57:03","guid":{"rendered":"https:\/\/lakelandgazette.info\/news\/?p=24717"},"modified":"2022-09-02T17:57:08","modified_gmt":"2022-09-02T21:57:08","slug":"rate-hikes-are-now-in-effect-for-thousands-of-citizens-property-insurance-customers-in-florida","status":"publish","type":"post","link":"https:\/\/lakelandgazette.info\/news\/2022\/09\/02\/rate-hikes-are-now-in-effect-for-thousands-of-citizens-property-insurance-customers-in-florida\/","title":{"rendered":"Rate hikes are now in effect for thousands of Citizens Property Insurance customers in Florida"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">It&#8217;s been known as the last resort property insurer for Floridians.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"700\" height=\"400\" sizes=\"auto, (max-width: 700px) 100vw, 700px\" src=\"https:\/\/lakelandgazette.info\/news\/wp-content\/uploads\/2022\/09\/citizens-prop-1.webp\" alt=\"\" class=\"wp-image-24718\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">But lately, Citizens Property Insurance Corporation may be the only option for insurance in some zip codes, and their rate increases started Thursday.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Florida homeowners insured by Citizens Property Insurance are facing an average rate hike of 6.4%, which is now in effect for thousands of homeowners.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The increase comes as the state-run insurer proposed rate hikes over the next several years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Citizens Property Insurance Corporation has now topped 1 million policies in Florida. In the last year, it&#8217;s been writing an average of 32,000 new policies a month.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company urged the Office of Insurance Regulation to approve rate hikes in order to strengthen its financial position.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">When it&#8217;s time to renew, policyholders will see an increase and new policyholders will face higher rates. The rates increased from 6.4% to 10.7%, depending on the time of coverage.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Citizens Insurance was also approved to continue increasing rates by 1% annually until it reaches the cap at 15% in 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It&#8217;s been known as the last resort property insurer for Floridians. But lately, Citizens Property Insurance Corporation may be the only option for insurance in some zip codes, and their&hellip; <\/p>\n","protected":false},"author":1,"featured_media":24718,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"wpai_generated_summary":"","footnotes":"","jetpack_publicize_message":"{title}\n\n{excerpt}\n\n{url}","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"dois","default_image_id":71799,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[12,14],"tags":[3345],"class_list":["post-24717","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-local","category-news","tag-citizens-property-insurance"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/24717","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/comments?post=24717"}],"version-history":[{"count":0,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/posts\/24717\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media\/24718"}],"wp:attachment":[{"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/media?parent=24717"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/categories?post=24717"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakelandgazette.info\/news\/wp-json\/wp\/v2\/tags?post=24717"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}