Citizens insurance rate increase softened

Florida's insurance commission allowed Citizens to lower their rate request hike down to +6.3%. This is -1.6% less than originally proposed. Owners who do not live near the water will probably see a +4.4%  increase as opposed to an average proposed increase of +7.3%. These new rates will take affect on January 1, 2014. There are 270,000 customers in the Hillsborough, Pinellas, and Pasco counties cover by Citizens.