Bills would raise Citizens Insurance rates by 5 to 20 percent

Homeowners covered by the state-run Citizens Insurance Corp. could see their rates rise by as much as 5 percent a year, under legislation approved 34-2 by the Senate on Tuesday. That's the best-case scenario for homeowners. The House bill, passed late Friday, would allow individual policy rates to rise by up to 20 percent a year. The House is expected to consider the Senate proposal today and accept a 10 percent increase. But if House members refuse to accept it, the bill could die altogether. In that case, the three-year freeze on Citizens' rates would expire, and Citizens is likely to seek rate hikes of as much as 40 to 55 percent.

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