Comments on: No Alternative To Citizens Property Insurance https://realtybiznews.com/plan-to-reduce-citizens/9872371/ With the latest on mortgages, refinancing, real estate & home tips Mon, 13 May 2013 22:14:05 +0000 hourly 1 http://wordpress.org/?v=3.5.1 By: buy kefir grains online https://realtybiznews.com/plan-to-reduce-citizens/9872371/#comment-181903 buy kefir grains online Thu, 17 May 2012 20:26:50 +0000 https://realtybiznews.com/?p=2371#comment-181903 Blogs ou should be reading…

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]]> By: Angel Sierra https://realtybiznews.com/plan-to-reduce-citizens/9872371/#comment-8716 Angel Sierra Tue, 03 May 2011 13:08:59 +0000 https://realtybiznews.com/?p=2371#comment-8716 No one is thinking that the people can’t continue to pay the already out of control Insurance rates. This legislature that my family and I helped put in office need to find a way to lower the cost of property insurance in this state or surly be voted out of office. We need the HELP from our elected officials to LOWER the out of control insurance rates !!

]]> By: Arthro https://realtybiznews.com/plan-to-reduce-citizens/9872371/#comment-8642 Arthro Mon, 02 May 2011 16:51:27 +0000 https://realtybiznews.com/?p=2371#comment-8642 Citizens is the state-run insurer which allows them to charge substantially less than they should be charging because they can tax everyone after the storms hit. Their actuaries estimate that Citizens needs a 55% rate increase, but they are capped at 10% by law. That needs to change.

Private insurers have left the market because they can’t continue losing money by charging artificially low premiums to try and competet with Citizens in a market that has the greatest hurrciane risk in the world. In many cases, Citizens premiums are much lower, and that’s why they continue to grow. The real problem is that it obligates all Florida residents to paying assessments or “hurricane taxes” when the next storm hits, but most Floridians don’t know how it can affect them. Those taxes could be substantial. Private insurers are required to have enough money in reserves to pay claims. They do not have the power to assess or tax consumers after the hurricane hits.

The only way we’re going to get private insurer to come back into the market is to allow rate increases so they can charge what they need to charge. Otherwise, tehy have no incentive to come back to the Florida market – it would be a stupid business decision for them.

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