TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (Office) has established the 2015 commercial residential and non-residential rates for Citizens Property Insurance Corporation (Citizens), Florida’s largest property insurer. Overall, statewide average commercial rates will increase 3.3%, compared to the 5.2% increase requested by Citizens.
The rate filing decision for Citizens homeowners accounts was made earlier this month and amounted to a statewide average rate decrease of 3.7%.
Today’s Order sets commercial rates for Citizens Non-Residential Multi-Peril, Non-Residential Wind Only, Residential Wind Only (excluding Condo Associations), Residential Wind Only (Condo Associations), Residential Multi-Peril (Condo Associations), and Residential Multi-Peril (excluding Condo Associations) accounts. Commercial polices are found in both Citizens’ Commercial Lines and Coastal Accounts and represent 99,009 of Citizens’ 933,807 policies statewide.