More premium hikes coming for Citizens Insurance policyholders

WEST PALM BEACH, Fla. — Florida policyholders with Citizens Insurance are seeing more rate hikes.

“Every policy is going up, but again it’s a hit or miss depending on their policy,” Robert Norberg at Arden Insurance in Lantana said.

In some cases, the hikes have been reported to be more than 100% in some parts of Florida, but Norberg said generally in South Florida the jump is about 30%.

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“Thirty percent again this past year when I renewed, and I’m sure they’ll be another increase now,” Maria Berrios, a homeowner in Lake Park with a Citizens Insurance policy, said. “I absolutely do not want to keep Citizens at all.”

However, she said finding another policy is difficult in a climate where private policies are being canceled over things like aging roofs.

Norberg said the Citizens’ hikes are twofold.

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First, there are the annual increases that come every year, and now there is an added increase to keep policies in line with increased home values.

“I just had a lady in, and I had to explain why her [policy] increased, and I broke it down,” Norberg said. “Here’s the base rate increase, here’s the rate because the coverage increased everywhere.”

Citizens has been an insurer of last resort for many Florida residents, and Norberg said it’s best if homeowners can find private policies that are more comprehensive.

“We’re hoping the legislation that was passed (last year) will start to bring carriers back in,” Norberg said. “We’ve seen it already with a few.”