Close Menu
Insurance Journal – Property Casualty Insurance News

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Property Manager Criticizes Citizens Insurance

    July 15, 2025

    Hotchkiss Insurance Expands Leadership Team with Three New Partners

    July 15, 2025

    Best Life Insurance Companies with Living Benefits

    July 15, 2025
    Facebook X (Twitter) Instagram
    Insurance Journal – Property Casualty Insurance NewsInsurance Journal – Property Casualty Insurance News
    Facebook X (Twitter) Instagram
    SUBSCRIBE
    • Home
    • Business Insurance
    • Identity Protection
    • Life Insurance
    • Pets Insurance
    • Property Insurance
    • Vevehicle Insurance
    Insurance Journal – Property Casualty Insurance News
    Home ยป Florida Senator Proposes Raising Citizens Property Insurance Cap in Miami-Dade and Monroe Counties
    Property Insurance

    Florida Senator Proposes Raising Citizens Property Insurance Cap in Miami-Dade and Monroe Counties

    insurancejournalnewsBy insurancejournalnewsFebruary 26, 2025No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp Email

    Florida Senator Proposes Raising Citizens Property Insurance Cap

    Florida Senator Ana Maria Rodriguez, representing Miami-Dade and Monroe counties, has put forward a proposal that could broaden eligibility for coverage from the state’s Citizens Property Insurance Corp. The legislation, filed on Monday, aims to address the rising home values and challenges homeowners face in securing insurance.

    Currently, Citizens is restricted from issuing policies for homes with a dwelling replacement cost of $700,000 or more, except within Miami-Dade and Monroe counties, where the cap is $1 million. Rodriguez’s bill seeks to raise this limit to $1.5 million for these two counties, which have historically faced unique challenges in securing insurance coverage.

    This isn’t the first time lawmakers have considered such a move. The existing $1 million cap in Miami-Dade and Monroe counties was established because state regulators determined there wasn’t a sufficient level of competition among insurance providers. The proposed change mirrors ongoing state efforts to manage the size of Citizens, which has expanded significantly in recent years to become Florida’s largest insurer.

    It’s important to note that dwelling replacement costs, which represent the financial requirement to rebuild a home, can differ from market values, because they don’t include the value of the land.

    Citizens Property Insurance Florida insurance Miami-Dade Monroe County
    insurancejournalnews
    • Website

    Related Posts

    Property Manager Criticizes Citizens Insurance

    July 15, 2025

    Hotchkiss Insurance Expands Leadership Team with Three New Partners

    July 15, 2025

    US Property Insurance Market Shows Cautious Optimism Heading into 2025 Hurricane Season

    July 14, 2025
    Leave A Reply Cancel Reply

    Don't Miss

    Property Manager Criticizes Citizens Insurance

    By insurancejournalnewsJuly 15, 20250

    A property manager has expressed strong dissatisfaction with Citizens Insurance, highlighting the challenges faced by Florida residents due to the state’s insurance coverage collapse.

    Hotchkiss Insurance Expands Leadership Team with Three New Partners

    July 15, 2025

    Best Life Insurance Companies with Living Benefits

    July 15, 2025

    Understanding Life Insurance Death Benefits

    July 15, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Our Picks

    Property Manager Criticizes Citizens Insurance

    July 15, 2025

    Hotchkiss Insurance Expands Leadership Team with Three New Partners

    July 15, 2025

    Best Life Insurance Companies with Living Benefits

    July 15, 2025

    Understanding Life Insurance Death Benefits

    July 15, 2025

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Demo
    New

    Montana Eyes Workers’ Comp for First Responders with PTSD

    February 24, 2025

    Best Home and Auto Insurance Deals for Veterans

    February 24, 2025

    Pennsylvania Insurance Department: Protecting Consumers and Regulating the Insurance Market

    February 24, 2025
    Categories
    • Business Insurance (1,842)
    • Identity Protection (539)
    • Life Insurance (1,751)
    • New (5,680)
    • Pets Insurance (521)
    • Property Insurance (998)
    • Vevehicle Insurance (473)

    Property Manager Criticizes Citizens Insurance

    By insurancejournalnewsJuly 15, 20250
    Facebook X (Twitter) Instagram Pinterest
    © 2025 Insurance Journal News. Designed by Insurance Journal New.

    Type above and press Enter to search. Press Esc to cancel.