State OK’s rate hikes for Citizens insurance

Coastal customers of Citizens Property Insurance will pay an average of 8.3 percent more for wind-only coverage next year while multi-peril customers will see their bills increase 1.8 percent, on average, under rates approved by the state Office of Insurance Regulation.

The multi-peril increase is half a percentage point more than the 1.3 percent sought by Citizens, while the coastal wind-only rate increase was nearly a point less than the requested 9.0 percent hike.

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This story was originally published September 9, 2015 at 10:34 PM with the headline "State OK’s rate hikes for Citizens insurance."