Your Homeowners Insurance Rates…ON THE RISE AGAIN
By: Florida Chamber of Commerce
Citizens Property Insurance Corp.’s Board of Governors has approved a proposal to raise homeowners’ insurance rates by an average 5.3 percent statewide next year, citing “out of control’’ water loss claims associated with assignment of benefits (AOB).
This increase is exactly what the Consumer Protection Coalition has warned against and underscores our position that state lawmakers must pass legislation to reform AOB abuse that is hurting Florida’s consumers and threatening the affordability of homeownership. A news article in today’s edition of the Orlando Sentinel, Citizens to ask Florida for insurance-rate hikes, blaming water claims, Citizens Chairman Chris Gardner said the proposed rate increases, which must be approved by state regulators, are “critical for Citizens’ effort to bring some relief to a market that is being made increasingly expensive by unnecessary litigation and out-of-control water loss claims. Unfortunately, we are making it more expensive for many of our customers to own a home.’’
Help Fight AOB Abuse
- Share this message with your friends, family and coworkers, and ask them to…
- Sign the petition to encourage lawmakers to stop AOB fraud and abuse, and protect consumers from increasing homeowners and auto insurance rates.
- Stay up to date on important AOB-related news updates by following the Consumer Protection Coalition on Twitter at @CPC_FL and “liking” the Coalition on Facebook at com/ConsumerProtectionCoalition