Citizens Insurance looking to raise rates in Florida – WSVN 7News | Miami News, Weather, Sports

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(WSVN) – Buying or renting may come at a higher cost. Citizens Insurance announced they are looking to raise rates by 14.2% after Hurricane Ian took a big part of the company’s reserve.

The company also announced they are considering a yet-to-be-determined hurricane tax if a big storm hits the state.

It is estimated that Citizens Insurance has about 1.2 million customers in Florida.

The Citizens rate hike request still needs state approval.

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