Florida Senate approves humongous rate hike for Citizens Insurance

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The Florida Senate approved a rate hike of up to 85% for Citizens Insurance. The vote was 24/15 and now moves to the Florida house.

Jeff Clemens, once again, voted on the right side of reason by voting NO. “If you want to raise insurance rates, vote for this bill,” said Sen. Jeff Clemens, D-Lake Worth. Joe Abruzzo of Wellington and Joe Negron of Stuart did just that and voted for the hike. Eventually it could be up to Governor Rick Scott whose political action committee received $718,000 from insurance interests.

Current Citizens customers would remain under a cap that limits rate increases to 10 percent a year, but new customers would have to pay what are deemed “actuarially sound” rates. That means new customer rates 60 percent to 85 percent higher in three terrorities in Palm Beach County, many of them with wind-only policies, according to Citizens records.

Read more... The people continue to get screwed and have no protection in the State from insurance company gouging.