Governor Ron DeSantis revealed that most homeowners in Miami-Dade and Broward Counties enrolled in the state-run Citizens Property Insurance will see a reduction in their premiums for the year. Specifically, 73% of Miami-Dade policyholders will experience an average decrease of 6.3%, while about 50% of Broward homeowners will see a 4.5% drop. This marks a significant shift after previous years of increasing rates. The decision stems from regulatory adjustments and a more stable financial position for Citizens in Miami-Dade, attributed partially to recent legislative changes limiting litigation against insurers.
In Miami-Dade, 73 percent of its policyholders will see premiums go down by an average of 6.3 percent, he said. In Broward, about half of homeowners will see a 4.5 percent decrease.
Cerio credited the situation to laws passed by the Legislature making it harder to sue insurance companies. "Miami-Dade was a hotbed of litigation," Cerio said.
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