WWW.KEYSNET.COM SATURDAY,APRIL 27, 2013 VOLUME 60, NO. 34 ● 25 CENTS STATE LEGISLATURE Rate increase bypasses Keys By RYAN McCARTHY Rep. Holly Raschein (R-Key But new Citizens Property policies structure that has a dwelling Lastly, language was added
[email protected] Largo) intact. That means replacement cost of $1 million from Raschein’s House Bill avoiding windstorm insur- elsewhere in Florida will see hikes or more, or a single condo- 819, which would add an addi- After twice delaying a vote, ance rate hikes of up to 137 minium unit that has a com- tional member to the Florida the state Senate on Thursday percent in Monroe. Florida’s 66 other counties. the Keys from a cap on insur- bined dwelling and contents Commission on Hurricane approved a controversial bill The amendment language The average windstorm ing homes above a certain replacement cost of $1 million Loss Projection Methodology. that could mean significant states that the exception is for premium in the Keys is value. That amendment or more, is not eligible for The bill says the member Citizens Property Insurance “counties where [Citizens] $2,900. Had the rate hike drops Citizens’ coverage lim- coverage by the corporation.” would be “a licensed profes- Corp. premium hikes on new provides more than 75 per- included Monroe County, that its in phases to as low as The bill also says that sional structural engineer policies statewide. cent of the personal lines res- same average policy could $300,000 statewide, but a $1 homes insured by Citizens as who is a full-time faculty The good news for Keys idential policies providing cost a new customer $6,873.