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  2. New plan could result in double-digit property insurance rate increase for millions of Floridians

New plan could result in double-digit property insurance rate increase for millions of Floridians

Florida's Office of Insurance Regulation is considering a proposal to increase property insurance rates for Citizens policyholders. The governing board approved an average 14% increase for over a million policyholders in June. The proposed rates include a 13.5% rise for homeowners and a 14.2% increase for condo owners. Citizens aims to become less competitive with the private market, citing fraud and lawsuit costs as reasons for the hikes. If approved, the new rates will take effect in January.

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All Real Estate Transactions are BROKERED by Real Broker LLC.

All Residential Mortgage Transactions are BROKERED by U.S. FINANCE GROUP, LLC (NMLS ID: 26140)

All other services & lending products are brokered by Miami Beach Brokers LLC unless otherwise disclosed.

Miami Beach Brokers® & the Miami Beach Brokers® logo are registered trademarks of Metro International Investments. All rights are reserved.

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