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Florida homeowners face $60 insurance hike

United Press International
By United Press International
1 Min Read Feb. 16, 2005 | 21 years Ago
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As a result of last year's hurricanes, Florida homeowners can expect a $60 surcharge on their windstorm insurance this year, it was reported Wednesday.

The money would be used to help the state-run Citizens Property Insurance Co. recover from the four hurricanes that ravaged the state, the St. Petersburg Times said.

Citizens officials said no decisions will be made about the size of any assessment until next month.

But the staff has told the board of directors it is running a deficit of about $400 million in its high-risk account.

Citizens spokesman Justin Glover said that's only a snapshot, but it would translate to an assessment of 5-6 percent or about $60 per policy on average.

Glover said the deficit could be less than that if the staff has overestimated how much it will have to pay out to hurricane victims.

© Copyright 2005 by United Press International

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