Citizens Property Insurance Corporation’s Board of Governors recommended an across-the-board rate increase of to 14.2% for 2023-2024. For Monroe County the wind only recommended rate increase is 16.2% for non-primary homes and 26.4% for non-primary condominiums.

The recommendations will be presented to the Office of Insurance Regulation at the Citizens Property Insurance Rate Hearing, 3 pm on Thursday, June 8 in Tallahassee.  FIRM Board members will be in Tallahassee to make comments at the hearing.

Flood Insurance Requirement

Citizens policyholders must secure and maintain flood insurance regardless of whether they are in areas prone to inundation, elevated, or do not have a Federally backed mortgage.

FIRM supports efforts to protect from flood and ensure homeowners are educated about what their policies do and do not cover. However, the flood insurance requirement has led to an additional financial burden for Monroe County residents already struggling to afford astronomical windstorm insurance rates.

Monroe County’s Loss History

Monroe County continues to experience rate increases in spite of our loss history. Since 2003 Monroe has contributed over $850m to Citizens in premiums over claims. 

Monroe County residents consistently shoulder the burden of fraud and Citizens’ inconsistencies in addressing these circumstances for the rest of the State.

Representation on the Citizen Board of Governors

Since 2021, Monroe County has been without a representative on Citizens Board of Governors.

St. John’s County with a policy count of 4,871 has two seats on the Board while Monroe County with a policy count of 18,819 has no seat at the table.

Make your voice heard

To submit public comments to the Office of Insurance Regulation until June 22, 2023, click on the link below. Add a sentence at the beginning stating your name and where you live and add your name to the end of the email.

  • Check the email for glitches that look like typos caused by the formatting program.
  • Under Florida law, written communications to the Office are public record; this would include email addresses. They are subject to public disclosure, including being available to the public and media if requested. For more information visit the Office of Insurance Regulation’s Internet Privacy Policy.
Email Office of Insurance Regulation

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